The German international has become a huge hit at the Emirates Stadium in recent times, and has scored 18 goals and contributed numerous assists to Arsene Wenger's side since joining for a club-record fee of over £40 million in 2013.
The 27-year-old is widely renowned for his playmaking ability in midfield, and Matthaus believes Ozil should look for a move to Barca as this attribute would make him the perfect fit in the Catalan city.
Matthaus told Yahoo!: "It would surely be a gain for him because Barcelona is simply the cream of the crop, especially when it comes to attacking strategies.
"They seem to look for someone who can give inspiration there and strengthen the team more from the depth of midfield. At the front there is already great interaction and harmony, the quality there is simply fantastic and a real goal threat.
"[Barca would improve] if next to [Ivan] Rakitic there was someone like Ozil, who collected about 20 goal assists in the Premier League, which of course someone like [Cristiano] Ronaldo and a team like Real Madrid already profited from."
Ozil's form has been a key factor in Arsenal's title push this season after initially struggling to settle in English football, and is now widely regarded as one of the best midfielders in England.
The World Cup-winner has registered 17 assists and six goals in all competitions this season and has helped Arsenal occupy a spot in the Premier League top three for the majority of the campaign.