The Croatia international will be available on a free transfer in the summer when he reaches the end of his contract with Ukrainian side Shakhtar Donetsk.
The 30-year-old, who was hampered by a serious leg break during his time with the Gunners, told the Daily Star: "I still love the Premier League. I keep in touch with Tomas Rosicky and Bacary Sagna at Arsenal and keep an eye on what is generally happening in England.
"I expect to play for Croatia in Brazil and if I have a good World Cup, who knows what that could lead to? Arsenal have the right mentality and I'm not surprised they have made such a good start to the season and are top of the Premier League."
Eduardo scored eight goals in 41 appearances during his three-year spell in North London.