The Gunners are widely thought to be looking to add another wide player to their ranks having recently been linked with Gelson Martins of Sporting CP, and according to reports in Argentina, they have made contact over a potential move for Pavon.
However, Arsenal will face some stiff competition for the winger, as Chelsea are also reported to have met with his people over a potential move, and elite clubs across Europe such as Barcelona and PSG have also been linked.
The 22 year-old is making waves in Buenos Aires, lighting up the Primera Division with six goals and 11 assists over 25 appearances in the division last campaign, and was named in Jorge Sampaoli's final 23-man Argentina squad for the World Cup.
His call-up for the tournament may serve as a potential hold-up, as Boca may be justifiably keen to hold on to the player until after the tournament in case he catches eyes in Russia, prompting a sharp rise in his value. As an example, James Rodriguez was the same age as Pavon in 2014 when his immense showing in Brazil resulted in a big money move to Real Madrid.
Pavon is thought to be one of many transfer targets for the Gunners, as new boss Unai Emery plans to make his stamp on the squad with a summer overhaul, after taking over Arsene Wenger's 22 year legacy with the north London side.
They have already completed the signing of former Juventus right back Stephan Lichtsteiner, and more signings are thought to be imminent.