The Gunners are one of several clubs, including Premier League rivals Liverpool, to be linked with a swoop for the 26-year-old shot-stopper, who has made over 300 appearances for the Bundesliga club.
However it was Italian Serie A outfit Napoli who were believed to be leading the chase to get the Germany international on board in this transfer window.
Leno's agent Fabio Parisi claimed the player's future should become clearer by this coming weekend as Leverkusen officials were waiting to see if any club would trigger his £22 million release clause.
In the meantime an Instagram post which linked Leno with a move to the Emirates Stadium was liked by the player which suggests that he is open to a move to link up with Unai Emery's Gunners.
It's thought a switch could be imminent, although there is no major rush to get it over the line given that Leno missed out on Germany's 23-man squad for this summer's World Cup in Russia.