The Gunners have been heavily linked with the World Cup winning centre-half this summer, with Valencia reportedly facing a battle to hold onto their prize asset.
Mustafi has progressed markedly in recent years, with his development showcased in his inclusion in the Germany squad for both the 2014 World Cup and Euro 2016.
The no-nonsense defender has starred since leaving Italian side Sampdoria to join Valencia and is regarded as one of the most dominant defenders in La Liga.
Despite reports that Arsenal could well be closing in on a deal for Mustafi, Chelsea are believed to also be suitors.
Antonio Conte is said to want another central defender to add to his squad and as such a tug-of-war for the German’s services could well be set to ensue this summer.