Subsequent reports have claimed that Arsenal have agreed a £36m deal with Gremio for the 23-year-old, who is due to undergo a medical in Porto Alegre.
The Gunners are in the market for a new winger and have already seen their £40m offer for Wilfried Zaha rejected by Crystal Palace.
Lille’s Nicolas Pepe is also on Arsenal’s shortlist but the 24-year-old’s £70m valuation is likely to rule Unai Emery’s side out of the running.
Martinelli is currently Arsenal’s only signing of the summer transfer window, but Everton may have given an indication that he could be joining up with his fellow Brazilian in north London after he began following the 18-year-old on Instagram.
— afcstuff (@afcstuff) July 18, 2019
Everton is currently on holiday after helping Brazil win the Copa America earlier this month.
The winger finished as the tournament’s Golden Boot winner with three goals, while he was also named Man of the Match in the final as Brazil sealed a 3-1 victory over Peru.
Arsenal, meanwhile, are closing in on a season-long loan deal for Real Madrid midfielder Dani Ceballos.