The 19-year-old played 35 times for the Andalusian side during the campaign, scoring five goals from midfield and helping them to get promoted to La Liga. This has caught the eye of the Gunners, who are renowned for trusting in youth.
Manager Arsene Wenger has a reputation for developing players for his starting XI, and Ceballos could be a similar signing to Krystian Bielik last January. The Pole is yet to play for the first team, but is expected to make an impact in the future.
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Ceballos certainly has the credentials to become a top class talent, having recently helped Spain Under 19s to win their European Championships. He has also appeared twice for the Under 21s outfit. With only one year left on his contract with Betis, the youngster could well be available.
However, Arsenal will have to move quickly if they want their man, as it is thought the club are keen to tie him down to a new deal at the Estadio Benito Villamarín.