The Spaniard is coming to the end of his season-long sabbatical after leaving Barcelona in the summer.
Enrique is now keen to get back into management and it was reported he could head to Paris Saint-Germain to link up with Brazilian superstar Neymar again.
However, the French giants are now set to appoint Thomas Tuchel as their new coach in the summer instead.
As a result, according to El Mundo Deportivo, Enrique is now in pole position to take over at Arsenal if Arsene Wenger leaves.
The Frenchman’s future is up in the air at the Emirates and it has been reported he could go in the summer if he fails to win the Europa League.