However, he has stated that he will only contemplate an exit from his current club for a team who have qualified for the Champions League and who "play good football".
The 25-year-old told UEFA's official website: "[The team I will join] will have to be in the Champions League and play good football. Passing the ball, not just hitting it from box to box. Not kick and rush. That would not work for me."
Both Atletico and Dortmund are well placed to earn Champions League football next season, but as it stands, Arsenal will only qualify for the Europa League.
Lacazette has scored 30 goals in all competitions during the current campaign.