The midfielder impressed during a loan spell from Real Madrid in the season just gone, becoming a key player in Mikel Arteta’s improving team.
Ceballos has since been back in training with the Spanish side and was shown in pictures taking part in a two-hour-long session with the club.
However, as reported by Fabrizio Romano , the midfielder could soon be back with his Arsenal teammates.
The transfer expert claims that advanced talks are taking place between the two clubs over another loan for Ceballos at the Emirates Stadium, with Mikel Arteta calling the player to convince him to return.
An agreement between the clubs is expected, and Ceballos himself has given a hint that something could be on the offing soon.