Arsene Wenger has been linked with signing the Toon star as replacement for Gunners striker Emmanuel Adebayor, who is expected to complete a switch to Barcelona this month.
Martins: "Arsenal is a big club that everyone wants to play for. I am thrilled and it will be nice to play for such a team.
Martins originally was not interested, but now the Nigerian says a move to the Emirates Stadium could suit him.
"But, now that I am a Newcastle player, there is nothing much to say. If it is true, both clubs would have to reach an agreement.
"Is Arsenal a good club? Yes. Would I love to play there? Probably, if Newcastle are ready to listen to them. But if Newcastle says no then it'll be no.
"Because I still have a contract, I expect the club to speak to me when I get back. I am not saying I want to go but, if anything happens, that's football."