The 34-year-old recently opened up about how he nearly committed suicide following a bitter divorce that left him with nothing.
Eboue used to make millions in the Premier League but is now sleeping on his friend’s floor, washing his clothes by hand and hiding from bailiffs.
And an Arsenal spokesman told the Daily Mail: "We are all so sorry to hear the reports about Manu's recent difficulties and will explore whether we can help in any way."
Eboue played for Arsenal for seven years before moving to Turkish side Galatasaray in 2011.
He has represented the Ivory Coast 79 times, scoring three goals in his international career and playing at the World Cup.
Another former club Galatasaray offered Eboue a role coaching with their U14s to help him get back on track.
Galatasaray boss Fatih Terim told CNN: ‘We heard news about Eboue in the dressing room. I was informed there, we will do whatever we can to help my friend.”
In an interview with the Sunday Mirror, Eboue told how he lost a divorce battle that left his wife Aurelie with all of their assets and how he has no contact with his daughters Clara, 14, and Maeva, 12.