The 31-year-old had an excellent 2019-2020 season for the gunners, scoring a total of 29 goals in 44 appearances in all competitions.
Aubameyang scored when the Arsenal won their record 14th FA Cup as they beat Chelsea at Wembley Stadium. The Gabon international also scored in the Community Shield against Liverpool at the end of last month, but he has been linked with a move away from the Emirates Stadium this summer.
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Aubameyang’s contract is due to expire next June but according to The Athletic, he is set to sign a new three-year contract with the gunners.
The report also has it that the deal will see the Aubameyang replace Mesut Ozil as the highest-paid player at Arsenal, meaning that it could be worth in excess of £350,000 a week.
Aubameyang has scored 71 goals in 110 appearances for the Gunners in all competitions.