Gunners boss Arsene Wenger revealed last week it was an issue the club aim to address.
The 26-year-old’s contract expires at the end of next season.
Welbeck penned a five-year deal with Arsenal after arriving from Manchester United in 2014.
Despite the England forward’s injury difficulties at the Emirates, the Gunners are keen to extend his stay.
And according to TransferMarketWeb, Arsenal are negotiating with Welbeck.
Aaron Ramsey is another player the Gunners intend to secure the future of.
Arsenal are desperate to avoid a similar situation to the one they find themselves in regarding Alexis Sanchez and Mesut Ozil.
Neither star players have penned new deals and are set to leave for free in 2018.
Welbeck’s long-term future in north London is not guaranteed yet.
And TransferMarketWeb add he is a target for Everton and West Brom.
Signing Welbeck, especially on the cheap, would be a real coup for the two Premier League clubs.
Ronald Koeman needs a to bolster his squad up front, having targeted Arsenal's Olivier Giroud during the summer window.
Meanwhile, the Baggies could reunite him with former United team-mate Jonny Evans.
Welbeck would then compete with the likes of Jay Rodriguez and Solomon Rondon for a starting spot up top for the Tony Pulis' side.
Arsenal do not want to lose another key first-team member, though.
Welbeck started the season brightly but is currently sidelined with a groin problem until mid-October.
The 26-year-old has scored four goals for the Gunners this season.
