The 28-year-old is about to enter the final 12 months of his current deal at the Emirates and has been in negotiations over fresh terms for some time.
The Gunners are thought to have offered the German a weekly wage of £250,000 in order to stay - a significant increase on his current wage of £140,000 - but he is said to be holding out for a figure of £350,000.
Quizzed by reporters on his future last night during the club's pre-season tour of Australia, however, Ozil gave his strongest hint yet that he is preparing to put pen to paper on a new contract.
"It is definitely my preference to stay," he said, according to the Daily Mail. "It is such a great club and I have always said that I feel very good at Arsenal. Once everyone is back in London we will sit down and discuss about the future.
"For now the most important thing is our pre-season and getting through the tour, training and getting fitness. When I'm back in London, we will sit down and discuss."