Goal revealed that the Gunners were lining up a bid for the Germany international back in January, with Draxler himself confirming that Schalke blocked a potential switch to Emirates Stadium.
Draxler feels his £37 million buy-out clause was a hindrance at times, with the specuation perhaps affecting his performances, but is now ready to kick on in the new season.
"The [buy-out clause] stayed with me," he told Bild. "I did not play like 20 clubs were ready to pay this sum for me last season. I have to become attractive to big clubs again.
"Now I know what it's meant to be the bogeyman. After the derby loss to Dortmund, it felt like I was the only one who was blamed for it."
Draxler scored just two goals in 26 Bundesliga appearances last season, but is hoping to reach double figures - as he did in 2012-13 - and help Schalke challenge for a Champions League qualification spot in 2014-15.
He continued: "This season, 10 goals should be possible for me. If our squad stays together, we can compete for the top three places. We can compete with Dortmund and Bayern."