The German international has been out of action for nearly six months.
The German international, who has a release clause of £37 million, has been on the radar of Arsene Wenger for the past 24 months and rumours of his arrival periodically do the rounds in the press.
But his form had dipped somewhat since the initial interest, however he had an excellent start to life under Roberto Di Matteo and it seemed as though he was going to play his way back into the transfer market.
Until he picked up yet another injury. He suffered a thigh injury against FC Augsburg at the end of October and until yesterday, had not played since.
Last night he came on as Schalke took on Freiburg in the Bundesliga. The game, which finished 0-0, saw Draxler's introduction in the 76th minute, was the World Cup winner's first game since Halloween last year.
A bid from Arsenal in the summer seems highly unlikely at the moment. The talented attacker now needs to build up his fitness again and try to prove himself as a top talent once again.
Until then, Arsenal's interest will remain from afar.