The Catalan side hijacked Roma’s attempt to sign the winger to bring him to the Nou Camp in a £38m deal last summer.
Fans were even waiting at Rome airport for Malcom before Barca trumped the Serie A side’s offer late in the day.
But the Brazilian’s first season in La Liga did not go to plan, as he made just a meagre six league starts.
Nou Camp chiefs are now seriously questioning whether Malcom has a future at the club.
But according to Mundo Deportivo, the player is willing to stay at Barca next season, despite his limited game time.
However, the club are apparently willing to consider the Brazilian’s sale should they receive an acceptable offer.
Arsenal were linked with a loan move for the winger during the 2018/19 season but nothing came to pass.
The report claims Barca are aware of interest from both the Gunners and their London rivals, Tottenham.
Unai Emery’s side cannot offer Champions League football but Malcom would probably see more action at the Emirates.
The Brazilian still has four years left to run on his contract at the La Liga side.
And Arsenal fans will be hoping for some incomings after the 2019/20 Premier League fixtures were revealed.
The Gunners face yet another tricky start a year on from playing Manchester City and Chelsea in their opening two games.
This time around they go to Anfield on the third weekend of the season, where Liverpool were unbeaten last season.
They then welcome Tottenham to the Emirates on the following weekend.