Aubameyang looks set to become the club’s newest addition before Wednesday’s transfer deadline.
Arsenal are close to a £60m deal for the Gabon striker and his move should be finalised before Wednesday.
And the Telegraph claim he has been offered a deal worth £180,000 a week until 2021.
That takes him above current top earners Mesut Ozil and Henrikh Mkhitaryan and will go some way to appease fans after the sale of Alexis Sanchez to Manchester United.
Aubameyang has scored 13 in 16 in the Bundesliga but has faced criticism from Dortmund fans.
They held a banner this week declaring: ‘No player is bigger than the club’.
Former Gunners Paul Mariner has urged the club to get the deal done.
“I think most Arsenal fans would be very, very happy with the forward-line situation (if they signed Aubameyang),” he told ESPN FC.
“There is still the dark cloud that is (Mesut) Ozil but we’ll cross that bridge when we come to it.
“(It would be) very concerning (if they don’t get Aubameyang). I’ve said it for weeks and weeks and weeks.
“I think it’s imperative that they get something for (Alexandre) Lacazette to feed off, he needs service in the box.
“If you’re going to bring Aubameyang in and you’ve got Mkhitaryan in, get Mkhitaryan in the right position.
“Is that the right position in the No 10? Is Ozil going to play in the No 10?
“So there’s all these things that (Arsene) Wenger has got to work out.
“There are very concerning spaces in that team for me before we think Arsenal are going to get back on track.”
And Ian Wright admits he’s nervous as the transfer window draws to a close.
“I’m really nervous because I really want that to happen,” Wright said on BBC Radio 5 Live.
“Inadvertently Arsenal would have done good business by doing terrible business in the first place.
“They would have fallen on their feet, I’m so excited by that.”