The veteran Socceroo was keen to move to the Gunners last year to play Champions League football, but the move never happened and he admits that was tough to swallow
The 38-year-old Socceroo reportedly handed in a transfer request to the Cottagers after Arsenal's interest was revealed last year.
Schwarzer made it clear he was attracted by the lure of Champions League football, having never played in Europe's top club competition throughout a long career which has seen him play in two Uefa Cup finals.
However, the move to Emirates Stadium never materialised as Fulham rebuffed Arsenal's bids and the Australian remained at Craven Cottage.
Schwarzer told The Sunday Mirror that missing out on the Arsenal move was a test for him, but said that he believes he handled the situation well.
“Was it a test for me? Without a doubt,” said Schwarzer. “It is always a big test when there is speculation and an ongoing saga.
“What you have to do is get your head down and do your job. I showed that I could do that. I am an employee of Fulham and I have always said I love playing for this club.”
The veteran, who missed Australia's June friendlies against New Zealand and Serbia due to groin surgery, returned to action in midweek as Fulham defeated NSI Runavik 3-0 in the Europa League.