Arsenal were linked with the player over the summer, but with changes ringing all around the Emirates no deal was done.
Now however, with Unai Emery in the dugout and Ivan Gazidis having left the boardroom to join AC Milan, the club are eager to get talks back underway.
Pavon was a surprise selection in the Argentine squad for the World Cup over the summer, taking a place over names such as Mauro Icardi, but he impressed in his brief time in Russia.
In addition, Boca have confirmed that there is a release clause in the player's contract, although they are not wanting to sell their prized asset and the clause is likely to be a large one - Pavon only recently signed a new contract.
"Pavon stays, signed for four more years. The clause is 50 million euros, which was what we wanted to be calm. We wanted to sell it when we understood that it was the necessary moment (sic)," Boca president Daniel Angelici was quotes as saying to 'TeamTalk'.
Despite this, the new men upstairs at Arsenal think they can get their man, and they are working on a deal to make it happen.