The 20-year-old was recalled to the Emirates during the January transfer window following an unsuccessful spell with Nantes, with whom he made just seven appearances for in the first half of the season.
With all of Bukayo Saka, Reiss Nelson, Gabriel Martinelli, Leandro Trossard, Emile Smith Rowe and Fabio Vieira battling for minutes on the wings, Marquinhos is currently not in Mikel Arteta's plans and is expected to make another swift exit from North London.
The English transfer window closed with Marquinhos still in the capital, but clubs in Brazil still have a month to conclude their business, as their winter market does not close until March 7.
According to Fabrizio Romano, Fluminense and Marquinhos have now reached a verbal agreement over a winter loan move, and there is hope that the transfer will be made official in the coming days.
In addition, the Brazilian giants have reportedly negotiated an option to make Marquinhos's deal permanent at the end of the season, despite Arsenal's previous high hopes for the attacker.
The Gunners fended off interest from Wolverhampton Wanderers to secure a £3m deal for a 19-year-old Marquinhos in the summer of 2022, and the expectation was that he would either be loaned out straight away or develop in the club's Under-23s side.
However, having registered an eye-catching four goals and two assists from just six matches in the Premier League 2, Marquinhos's promotion to the first team was fast-tracked, and he hit the ground running under Arteta.
The South American's debut in a Europa League clash with FC Zurich saw him score his first goal for the club and set up Eddie Nketiah in a 2-1 win,
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