Akpom spent the second half of last season on loan at Sint-Truiden where he impressed, scoring six goals in 16 Jupiler League games.
Although Akpom returned to Arsenal for pre-season, he is not in Unai Emery's plans and Arsenal are looking for roughly £2m for his permanent signature.
Akpom has just one year remaining of the lucrative deal he signed at the Emirates in February 2015. Since then Akpom has gone on loan spells to Nottingham Forest, Hull City and Brighton and Hove Albion.
But Akpom has so far played his best football outside of England. Negotiations are ongoing with clubs in Belgium and France to sign Akpom, with the player and with Arsenal, but Sint-Truiden are currently the favourites for his signature.
A permanent transfer is expected to go through either this weekend or early next week.