The 29-year-old joined Les Parisiens in the summer following a brilliant year with Nice but has struggled for game time under Unai Emery, playing only 387 minutes so far this season.
Ben Arfa has enjoyed a somewhat nomadic existence in recent years and failed to find regular football during the latter stages of his spell at Newcastle and his unsuccessful loan move to Hull.
The French international's talent is undoubted though, and with him mainly spending his time on the bench at the Parc des Princes, reports in Turkey are suggesting that Fenerbahce are monitoring his situation.
Fener have become a popular destination for players struggling at big clubs in recent years, with Robin van Persie and Nani most notably arriving from Manchester United.
It’' believed an initial six-month loan with an option buy in the summer could be on offer in January, with the player and his agent expected to try and push for the move.