Football.London reports that the interest comes from the reigning champions, who have looked at the 24-year-old before, and that they are now considering a signing in the winter window.
Schade, who has been with Brentford since January 2023, when he arrived on loan from SC Freiburg, has developed into a key player for the London club with a solid record of goals and assists.
Whether the interest turns into a bid remains to be seen. Brentford have made clear that they want to keep the winger, who is under contract until the summer of 2028.
Schade has played a key role in the Bees' impressive start to the season under manager Keith Andrews, who will be desperate to keep hold of the free-scoring winger.
Brentford began the season by beating Tottenham on the opening day, and Schade’s form has continued from there. Arsenal, meanwhile, have just seen their perfect start ended by a 3-0 defeat at Brighton, and return to action against Leeds on 10 October.