Although Arsenal prefer to sell Torreira permanently for around £18 million, they could allow the midfielder to leave on loan, with Fiorentina and Torino both expressing interest in signing the Uruguayan, The Guardian's Fabrizio Romano reports.
The 24-year-old arrived at Arsenal in 2018 for £26.5 million during Unai Emery's tenure with the Gunners. However, Torreira's slipped down the depth chart following Mohamed Elneny's return from his loan spell in Turkey.
Manager Mikel Arteta preferred the Egyptian midfielder over Torreira in Arsenal's season-opening win against Fulham on Saturday.
A move to either Fiorentina or Torino would see Torreira return to Italy where he played for Pescara and Sampdoria before joining Arsenal.