Liverpool spent £40 million on signing the former Arsenal man.
Alan Shearer, speaking to Coral, has said he finds it "very strange" that Alex Oxlade-Chamberlain has no best position - yet still commanded a big-money move to Liverpool.
The 24-year-old joined Liverpool from Arsenal in a £40 million deal.
Widespread reports suggest that he snubbed a move to Chelsea in favour of the Reds due to Jurgen Klopp promising him a centre-midfield role.
The England international had spent six years at Arsenal and was played on the wing for most of his time in North London.
However, Oxlade-Chamberlain has designs a central role at Anfield, but Shearer tells Coral that he is unsure where the former Southampton man is going to fit in.
"Liverpool won the race to sign Oxlade-Chamberlain. But I have to be honest, I’m still not sure what his best position is. He wanted to go to Liverpool but where will he play there?
"It is very strange when a player goes for £40 million and you are not sure if he is a winger, wing-back or central midfielder.
"I certainly don’t see him getting into the centre of midfield at Liverpool ahead of Lallana, Henderson, Can and Coutinho."
Oxlade-Chamberlain typifies how inflated the summer transfer market was. He has plenty of potential but to have achieved nothing in football and still commanded such a high fee is indicative of the route where football is headed.