Los Che are on the lookout for forwards this summer having sold David Villa, David Silva and Nikola Zigic to Barcelona, Manchester City and Birmingham City respectively.
GEAR:Get an Eduardo shirt
And they are believed to have identified Brazilian-born Croatia international Eduardo as the man to keep the goals flowing at Mestalla having sold their prize assets during the close season.
The Gunners' striker has scored just six league goals in 41 appearances for the Emirates Stadium outfit, with the frontman's progress halted abruptly in February 2008 after breaking a leg and dislocating an ankle during a match against Birmingham at St Andrews.
The former Dinamo Zagreb goal-getter has struggled to rediscover his form for Arsenal since, suffering a succession of minor injuries that have hampered his comeback.
However, the Arsenal boss recently stated that the striker - who has scored 18 goals in 29 games for Croatia - still has a big part to play in North London.
"Eduardo is an Arsenal player and I am expecting a lot from him this season," Wenger told Sportske Novosti.
"He had a terrible injury - he went through hell - but I think his workrate is fantastic and his determination, which is exceptional, will be of great use to Arsenal."
Valencia's reported interest in Eduardo follows Barcelona's much-publicised courtship of Cesc Fabregas and Atletico Madrid luring Fran Merida away from Emirates Stadium.
