Gunners are set to be active in the window as they bid to end wait for a trophy.
Mikel Arteta has promised a big summer of transfers to make Arsenal worthy Premier League title contenders next season.
The manager confirmed at least four or five players will be departing at the end of this season according to the Daily Mail. They include Jorginho, who is joining Brazilian side Flamengo, and the Celtic-bound Kieran Tierney.
Loanees Neto and Raheem Sterling are also going, with Oleksandr Zinchenko expected to depart, too.
Why Arteta wants early transfer deals
Arteta maintained that the Gunners need to be active in the transfer market considering that the team has a small squad: "Obviously we need players because the squad is really short, and on top of that we are losing four or five players that are going to end contracts, and their loans are finished.
"So, we need to be sharp. Again, very disciplined in what we want to do, and make sure that we are strong in the next season."
When asked how big the summer ahead is, he said: "Finish the season, go to the beach and make sure the ones upstairs (hierarchy) do what they need to do. What I can promise is I will do my very best. I will give my life here. I will give everything.
"I will get every drop of everybody there is, squeeze it, to get the best. But promise (silverware)? I cannot promise.
"Not any manager is going to promise, 'Next season, I'm going to win the Premier League or the Champions League."
Arteta was appointed as an assistant coach to Pep Guardiola at Manchester City in 2016. He returned at Arsenal in a managerial capacity in 2019 and won the FA Cup in his debut season.