Signed from PSV in January 2023 for €35 million, Madueke has made 92 appearances and scored 20 goals for Chelsea.
He developed in Tottenham's academy before spending four and a half years in the Netherlands, where his explosive pace and finishing ability caught the eye.
Arsenal bid for Madueke
According to the BBC, via Abola, the Gunners, having already agreed to terms with the player last week, have now submitted a formal offer.
Chelsea are demanding a fee in the region of €58 million for the 23-year-old England international, who is currently at the Club World Cup with the Blues. He appeared as a substitute in their 2-0 semi-final win over Fluminense.
This move is part of a wider Arsenal strategy to reinforce their attack, with Real Madrid's Rodrygo and Crystal Palace's Eberechi Eze also under consideration.
The Gunners have also intensified their pursuit of Viktor Gyokeres in recent weeks, sending representatives to Lisbon to meet with Sporting.
While still pursuing Viktor Gyokeres, Arsenal continues to bolster its attack and has made an official approach to Chelsea for winger Noni Madueke.