The Gunners reportedly joined Chelsea in triggering Remy's £10.5m release clause on Saturday, but their decision to withdraw from the race to sign the Frenchman means a move to Chelsea is more likely.
Both sides are looking for a new striker to bolster their options, with Chelsea set to lose Fernando Torres to Milan and Arsenal facing four months without Olivier Giroud, who has had surgery on a broken ankle.
Remy, a target for Liverpool earlier in the summer, appeared set to stay with QPR last week but he was a late withdrawal from Harry Redknapp's squad to face Sunderland on Saturday, much to the manager's surprise.
Before that game, Redknapp said: "The deal looks like it is probably done so I had to make a change in the team.
"He didn't refuse to play or anything, but speaking to him it is difficult. If he is moving and signing for another team, it’s difficult to go out there and get your head around playing."
Chelsea boss Jose Mourinho confirmed his interest in Remy after the 6-3 thriller against Everton on Saturday.
He said: “We are trying to get Remy. The information we have from specialists in different areas is that he doesn’t have a problem to play football.”
Arsenal's decision to pass on Remy could mean Arsene Wenger sticking with his current forward options to replace Giroud, who was injured late in the 2-2 draw with Everton earlier in August.
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