The Greece international has scored 14 goals in 14 games for Olympiakos so far this season.
Arsenal boss Arsene Wenger is keen to strengthen his attack and will be given cash to spend in January.
The Daily Star reports that the 25-year-old would cost any interested club at least £7million.
Reports suggest Liverpool and Dortmund are also keeping an eye on the striker.
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Being an amiable guy is good for you and Jurgen Klopp is living proof.
Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.