The Australia international, who Sir Bobby is reported to have made a £3million bid for, is keen to join a club in England but indicated that he definitely favours Highbury over St James’ Park.
"I've made no secret of my desire to play in the Premiership," Emerton told The Sun.
"I've heard nothing concrete but, if the stories about Arsenal being interested are true, I'd like nothing more. It's flattering to be linked with a massive club like them.
"I watch Arsenal a lot on TV and you have to admire the way Arsene Wenger has got them playing.
"But I've heard this type of thing before and nothing has happened, so I won't be getting too carried away. Newcastle have also been mentioned but the bottom line is I'm desperate to play in England.
"It has been my dream for as long as I can remember. I see how well players like Harry Kewell and Mark Viduka have done with Leeds and I think 'Why can't I do the same'?
"The Premiership suits my game. It's pacy, physical and it's all about attacking football."
And of his footballing ambitions he added: "I only want to go to a club who will play me in my natural position as a midfielder.
"That's where I believe I perform best. I'm also after regular first-team football though, at a club like Arsenal, that's obviously not something that can be guaranteed."