The Gunners are reported to be in talks with the World Cup winner over a contract extension and will resume talks next month.
Ozil was reported to be keen on leaving the north London based club after being rumoured to have had a rift with head coach Arsene Wenger in the Spanish press.
The Germany international of Turkish origin moved quickly to deny the reports and gave his full backing to Wenger.
Ozil still has another two years on his current contract and is in no rush to renew terms but Arsenal are keen on keeping their record £42.5 million signing at the club on a long term basis.
The report also claims that the Gunners are also in talks with Alexis Sanchez over renewing his contract.
The 26-year-old playmaker is currently on international duty with Germany where he will take on England and Italy in international games.