The 26-year-old attacker was heavily linked with a transfer away from Zenit last summer and had proposals from several sides on his table.
Les Gones and Tottenham were amongst the clubs who were keen on him last summer, but Sardar later revealed that the Russian outfit blocked his exit.
But his deal is set to expire at the end of the campaign and January could be the last chance for Sergei Semak’s side to recover a transfer from his sale.
And according to French source Foot Mercato, Lyon are willing to make another swoop for him in January and lodge a bid.
It has been stated that they are prepared to put in a proposal worth €7m to €8m for the Gunners target in the winter window.
With the Iran star showing no signs of signing a new deal, the Ligue 1 side are confident that Sine-Belo-Golubye will be ready to offload him in January.
The Gunners are also believed to be tracking him with a view to snapping him up for nothing next summer.
It remains to be seen whether either the Emirates outfit or Spurs consider making their own moves for him in January.