The Gunners are rumoured to be ready to activate the 21-year-old's release clause, which is said to be valued at €37 million.
"We put a release clause in the contract just in case clubs like this appear".
As he has developed, Pavon, also rumoured to be a Manchester City transfer target, has become an increasingly key figure for Boca.More news: Terror attacks in Pakistan keeps declining due to nationwide efforts
Arsenal have submitted an enquiry for the Boca Juniors winger as the Gunners aim to prepare themselves for life after Alexis Sanchez, who is most likely to exit the club, with Manchester City being his preferred destination.
It means that Arsenal would have to not only pay the release clause for the player but also convince him that he would get enough first-team football to still have a chance of making Sampaoli's squad.
Pavon signed his first professional contract with Argentinian top-flight club Talleres de Cordoba in 2012, aged just 16.
Boca Juniors president Daniel Angelici has claimed that there has been no offer from Arsenal for star forward Cristian Pavon.More news: Cryptocurrencies To Watch In 2018 (Besides Bitcoin)
"But I know very well what I said to Cristian when we renewed his contract".
If Sanchez does leave Arsenal in January, a replacement will be needed, and Pavon is available at a reasonable price in today's market.
However, Chambers only signed a new two-year contract extension in October, which suggests the club do still have faith in him to make the grade at the Emirates Stadium.
Pavon's explosive style earmarks him as the ideal replacement for Alexis Sanchez, He is an Argentina global, having made his debut in the friendly against Russian Federation a year ago. "It is then the player who has the last word", added Angelici.More news: Eric Hosmer has a $147 million offer from the Royals
Meanwhile, Arsenal remain interested in West Brom's Jonny Evans and have made an offer including Mathieu Debuchy, per David Woods at the Daily Star.
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