According to Rome based publicationIl Messaggero, Chambers can be bought for €14 million (£12.5 million).
Considering he cost Arsenal £16 million, when he joined from Southampton in 2014, the cited price may appear underwhelming.
The 24-year-old was enjoyed a successful loan spell at Fulham last season, despite the west London club being relegated.
Chambers was named Fulham’s player of the season for his development and contribution in the defensive midfield position.
His impressive displays have attracted interest from Lazio, who are on the hunt for a versatile defenders.
It’s claimed that both Chambers and Newcastle’s Jamal Lascelles are both available for the same price.