Oxford starred against the Gunners on the opening day of the season, shutting down Mesut Ozil in a surprise 2-0 win for the away side.
The teenager has made only three Premier League appearances since, with boss Slaven Bilic keen to keep Oxford under wraps rather than rush him into becoming a first team regular.
A move to the Gunners has it's attractions, with virtually guaranteed Champions League football and a higher profile which would aid his senior England prospects in the long term.
Yet sticking around at West Ham is Oxford's best option, for the team have already given him more opportunities than he would have had a right to expect by now.
Breaking through at Arsenal will be even harder. Just ask Oxford's England youth international colleague Dan Crowley, who was outstanding on loan at Barnsley this season and has won rave reviews for his displays at under-21 level, but can't get a look in for the first team even with injuries to the likes of Jack Wilshere, Tomas Rosicky, Santi Cazorla and Francis Coquelin.
Slaven Bilic has already shown his faith in Oxford, and as he continues to progress, the Croatian will hand him more chances over the next couple of seasons, and the midfielder should put his faith in West Ham and stick around.