The 24-year-old has been in great form for the League 2 leaders this season and has been training with the Dons during the past week.
And it is thought that Dons boss Derek McInnes will face competition from Dundee if he is to make a move for the player this summer.
With Ryan Jack still to commit to the Dons, Whatley could be seen as the perfect foil to new signing Kenny McLean, adding some grit and steel to the centre of Aberdeen's midfield.
Whatey was brought to Gayfield from Spartans last summer by Paul Sheerin, who is now Aberdeen Under-20 coach, and has made 29 appearance for the Red Lichties.
And Arbroath boss Allan Moore says Whatley, who is contracted until summer 2016, has what it takes to play at the top level.
Moore said: "Mark has been up training with Aberdeen, it's a good opportunity for the boy and we wouldn't stand in his way.
"I know Derek McInnes and Tony Docherty really well and they asked if it were okay to take a look at him.
"I think he has been the best player in our team for the last three months. He is a good lad as well, he works really hard.
"I have no doubt that Mark has the quality to progress, I look at some of the players that are in the Premiership just now and without being disrespectful, he is certainly on a par - if not better than some of them."
Source: Herald