An 18-year-old winger is the subject of much interest having made his mark on the Argentine Primera Division this season.
Atletico Madrid and Inter Milan are two clubs potentially interested in making a bid in 2014, although they would have to offer around £4.5million, the article reports.
Arsene Wenger has a habit of signing youngsters tipped for great things and will be debating whether to make a move for this latest starlet.
Correa has scored three league goals in 14 appearances for San Lorenzo this season having netted four times in 13 games last year.
The youngster will be looking to follow in the footsteps of Argentine international Ezequiel Lavezzi who played for the club between 2004 and 2007 before moving to Napoli and eventually Paris Saint-Germain.