The Gunners have been tipped to sign all three players this month with Mikel Arteta plotting to strengthen his squad in the winter market.
It is believed Isco is also up for sale at Real Madrid following a dismal run of form which has seen him register just a single assist in 10 league matches.
And reports suggest Brandt is another Arsenal target who could be available this month for the right price, with Dortmund understood to be demanding just £22.5million for the 24-year-old.
Arteta is said to be eyeing up a new attacking midfielder in January ahead of Mesut Ozil’s departure to Fenerbahce, which is reportedly imminent.
Yet according to The Athletic’s David Ornstein, Eriksen and Isco are not on the Arsenal manager’s radar.
He is not interested in signing either player before the January window closes, but a potential move for Brandt could be possible if the youngster agitates for a transfer this month.
Brandt was an unused substitute in Dortmund’s 2-0 win over Wolfsburg on Sunday amid speculation over his future at Signal Iduna Park.
The Germany international still has four-and-a-half years remaining on his current contract, however football.london claim Dortmund have set a £22.5million asking price for his signature.
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He is understood to be keen on moving to Arsenal in January, where international team-mates Bernd Leno and Shkodran Mustafi ply their trade as well as another fellow German in Ozil.
However, the latter is set to join Fenerbahce after reports emerged suggesting he has agreed a three-and-a-half-year deal with the Turkish club.