The 17-year-old has impressed in his four appearances for Hull City, one of which came against Wenger's Arsenal last season. Tymon made his Hull debut against Bury in the fourth round of the FA Cup last season and also starred in their 0-0 draw with Arsenal in the fifth round of the competition.
Tymon is yet to play a league game for Hull, but may make his league debut on Saturday against Watford due to the injury of Andy Robertson.
Arsenal are said to be keen admirers of the England U-17 international and are lining up a bid in January, but they will face competition from Everton according to the newspaper.
Chiefs at Hull are yet to offer Tymon a professional contract despite impressing and Arsenal or Everton, something which Arsenal and Everton may take advantage of.