Everton, who plays for Gremio, starred for his country in the Copa America and scored in the final win over Peru.
Everton (centre) celebrates his Copa America final goal with Roberto Firmino (left) and Philippe Coutinho after netting the opener against Peru on July 7
The Gunners were priced out of a move for Zaha by Palace’s asking price.
EVERTON’S GREMIO STATS LAST SEASON:
‘I don’t think Arsenal have actually made a bid that has come anywhere near our valuation,’ said Eagles manager Roy Hodgson on Tuesday.
With Arsenal operating on a restricted transfer budget this summer, Everton would provide a more affordable alternative.
Last season he scored 15 goals in 31 matches and provided three assists, an output that earned him international honours.
Despite the notion that Arsenal are reportedly operating without huge funds at their disposal, Emery has claimed they are in the market for ‘very big, very expensive players.’
Arsenal have moved on from their pursuit of Wilfried Zaha as Crystal Palace want £80million
The Gremio forward was outstanding for his club last season with 15 goals in all competitions
He said: ‘We are being very, very demanding and we are also first speaking about the possibility to sign very big players, very expensive and the first player in our list is our first target and after if we cannot have that the second but thinking every time that they are going to improve our team.
‘We are taking the market with patience and calm. We need to take the best players in some positions, really being demanding of ourselves for these players.
‘Really I can say to our supporters we are going to make a very good team with the players there now and three or four players who can help us in a few days.’