He joined Arsenal for a club-record £42.5 million in 2013.
The 27-year-old, whose contract expires in 2018, has arguably been the Gunners' Player of the Season in a campaign which looks set to yield no silverware.
The German, who joined Arsenal for a club-record fee of £42.5 million (BBC) from Real Madrid in 2013, has dazzled this season, bagging 19 assists in all competitions - 18 in the Premier League - as well as scoring seven goals.
Don Balon reports that the World Cup winner has his heart set on a return to Spain out of frustration that he most probably will not win a league title this season, and has informed his agent of his wishes.
The North Londoners sit third in the table, 11 points behind Premier League leaders Leicester City - albeit with a game in hand - and it could, and perhaps should, have been different for Arsenal.
Another capitulation has seen them fall out of contention and Ozil might well be justified in quitting the Emirates Stadium club. A player of his ability deserves the biggest prizes and it is hard to see him winning them with the Gunners.