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Walcott previously played aginst Ozil for Stuart Pearce's Young Lions, losing to the former Werder Bremen playmaker's Germany in the final of the European Under-21 championship in 2009, and believes the new arrival is a great addition to Arsenal’s squad.
He told reporters: "It's very exciting. I played against him for England Under 21s, he showed his qualities then and he has showed them since.
"He's a great addition and personally I'm looking forward to playing alongside him."
Ozil was the fourth player brought in by Gunners boss Arsene Wenger following the arrivals of Yaya Sanogo and Mathieu Flamini on free transfers and goalkeeper Emiliano Viviano on loan.