The 20-year-old striker has established himself as one of La Liga’s top youngest players, and has become first-team regular at the Mestalla Stadium.
It is understood that following with his impressive performances, Arsenal boss Arsene Wenger is keen to lure Alcacer to the Emirates Stadium this summer in order to bolster his strike-force and Wenger’s priority remains a striker.
The Spain Under-21 has scored nine goals in 19 starts for Valencia this season.
Wenger’s top target is said to be Real Madrid’s Alvaro Morata in this summer, with the price tag valued to be around £20m for the front-man could be out of the budget for the Gunners.
Whereas, the Valencia youngster is likely to be available in a much lower fee than Real’s Morata.