The Argentinian has also reportedly attracted interest from Premier League rivals Chelsea and Manchester United, as well as Juventus.
The 21-year-old would is hoping to remain in Serie A, but Zamparini admits Arsenal would be his preferred choice in England due to their playing style.
Palermo are only open to the sale of their prize asset if a club meets their £29m asking price.
GETTY
Arsenal make an official bid for Palermo striker Paulo Dybala
Juventus and Arsenal have already made offers
Maurizio Zamparini
The club president said: "Juventus and Arsenal have already made offers.
"[Pierpaolo] Triulzi, the lad’s agent will be in Italy on Friday. I’m asking for more than €40m [£29m].
"Dybala would prefer to stay in Italy, but the British team Arsenal are the first choice of the lad because of the way Wenger’s team plays."
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