The Gunners want to sign the France international on loan, with Standard Sport revealing their interest on Friday night, but it remains to be seen if Real Madrid will sanction the move.
Camavinga, 20, has played 66 times since signing for Los Blancos 18 months ago but has only started five LaLiga games this term - none of which lasted the full 90 minutes.
Arsenal hope to complete a loan deal to provide the midfielder with ample gametime amid their Premier League title push, with Ancelotti this week admitting to not being fully “fair” to Camavinga.
Before news of Arsenal’s interest broke, he is quoted by the club website as saying: “The substitution against Valencia was a technical one. He played well, but I changed him so as not to risk playing with 10 players.
“He played well against Barcelona, but I switched him because I wanted to bring more players on up front.
“I really believe in him. Admittedly, I’ve taken him off a number of times at the end of the first half and I haven’t always been fair to him in this respect, but I have complete confidence in him and he’ll contribute to the team tomorrow just as he always does.”