The North London outfit narrowly secured top four last season and have not won a trophy for eight years, but the Gunners' £42.5m signing is optimistic about the campaign ahead.
"Of course [we can challenge for the Premier League title]," Ozil said in a press conference. "I know the team, I know that talent we have here and I think every player wants to be successful.
"It will be difficult because this is the strongest league in the world but we will give everything."
Ozil is expected to make his debut against Sunderland this weekend.