Arsene Wenger is under pressure to land a marquee signing in the transfer window as he looks to address his striking options.
Manchester United are also tracking the Atletico Madrid striker with Jose Mourinho making him his priority target.
But according to Spanish publication Okdiario, Arsenal are willing to trigger his £85m release clause.
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Antoine Griezmann is attracting interest from Manchester United and Arsenal
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The claims are uncharacteristic of the Gunners with Wenger known for not willing to splash the cash over the years.
Arsenal's biggest deal to date was the £42.5m they paid Real Madrid for Mesut Ozil in 2013.
But the north London outfit face tough competition from United with the Red Devils also willing to bankroll a move for the France hitman.
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Antoine Griezmann is under contract with Atletico Madrid until 2021
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Arsene Wenger is reportedly willing to meet Antoine Griezmann's £85m release clause
However, Atletico insist Griezmann is not for sale with the 25-year-old under contract at the Vicente Calderon until 2021.
Griezmann has scored 15 goals in all competitions for the Spanish giants this season.
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