The Germany international is out of contract in June 2018 and has been tipped to seek an exit from Emirates Stadium should the Gunners fail to finish in the Premier League's top four this season.
Indeed, Goal reported on Tuesday that Manchester United are monitoring Ozil's situation, with Alex Oxlade-Chamberlain also on their radar.
Michael Ballack this week stated that Ozil's options may be limited in terms of future employers, with only a handful of clubs able to meet the 28-year-old's wage demands and offer him guaranteed Champions League football.
Speaking to SportBild, Ozil confirmed a switch back to Germany might be of interest, although it remains to be seen which Bundesliga clubs would be in the market for his services.
"I don't want to exclude that," he said.
"Many family members - my mother especially - would welcome it if I were closer to home.
"I still have a year on my contract and I love this club [Arsenal]. At the moment, everything is still open."