#3 Luka Jovic (Real Madrid)
Luka Jovic needs a fresh start and Arsenal could offer the striker a chance to revive his career. The Gunners have recently been linked with a move for the Serbian and this move makes sense for all parties involved.
Pierre-Emerick Aubameyang is set to captain Gabon at the African Cup of Nations, and Alexandre Lacazette seems to be preparing to depart the club. Hence, a move for Jovic would be a good move for Arsenal this January.
The striker has barely got a look in since joining Real Madrid back in 2019. He has made just 38 appearances for Los Blancos since then, scoring just two goals.
Signing Jovic could be a masterstroke for Mikel Arteta, as being only 23-year-old, the striker will be hungry to prove himself. The Serbian could be the perfect successor to Aubameyang at Arsenal and could lead the line for the Gunners for many years to come.
#2 Houssem Aouar (Lyon)
Arsenal are set to lose both Thomas Partey and Mohammed Elneny to the African Cup of Nations in January. With Granit Xhaka out for the next two months with a knee injury, Arsenal will need midfield reinforcements come the new year.
The Gunners have had a long-standing saga over the transfer of Houssem Aouar over the last two years. Mikel Arteta seems to be a huge fan of the Frenchman and is likely to go back in for him at some point.
If Arsenal bring in Aouar, it would completely balance their midfield as the Frenchman has shown his quality time and time again over the past few seasons. He has scored 34 goals and assisted 33 in his 182 appearances for Lyon.
Also, with Lyon currently in a financial hole, it is likely that the French club will be willing to part ways with the midfielder for the right price.
#1 Ruben Neves (Wolves)
Arsenal were reportedly very close to signing Ruben Neves this summer. However, the Gunners pulled out of the deal after Wolves decided not to budge on their valuation of the midfielder.
Neves is a proven Premier League player and would be a huge upgrade over Granit Xhaka. The Portuguese international will be a massive addition to the Arsenal squad and will go a long way in helping them compete for a top six finish.
If Arsenal are serious about finishing in a European spot, there is no reason why they shouldn't go after Neves in January. It remains to be seen whether Wolves would be willing to part ways with a player of his caliber.