The World Cup winner’s current deal has two years left to run. But his form has been so impressive that the club want to keep him at the Emirates until at least 2019.
The Gunners are determined to keep their key players and are willing to offer big money contracts if the need arises.
Alexis Sanchez has also agreed a contract extension at the Emirates and reports suggest that the news of the contract renewals will be announced soon.
According to the report, Ozil and Arsenal reached a verbal agreement early on in September and the German midfielder is expected to put pen to paper on a new deal soon.
Arsenal fans will be delighted to see the ambition shown by their club.
Previously Arsene Wenger was reluctant to hand out such long term luxury contracts to his players, but it seems Wenger is now open to change his ways.
Ozil has been outstanding all season long and in the absence of Ramsey, Wilshere, Chamberlain and Walcott, the German has been the primary creative outlet for Arsenal.
He broke the premier league’s consecutive assists record in the 1-1 draw against Tottenham as he became the first man to make six consecutive premier league assists.
Alexis Sanchez has also been impressive upon his arrival from Barcelona last season helping the team to an FA Cup title and his goals have gotten some crucial points for the Gunners.
Sanchez and Ozil are widely regarded as Arsenal’s best player’s with the attacking duo coming out of rival teams Barcelona and Real Madrid.