Leicester are in the verge of lifting the Premier League title after being tipped to be relegated back in September.
Ozil went onto bemoan the points Arsenal had dropped against the leagues lesser sides.
“This season it was possible to become champions. But for that we have lost too many points against small teams,” he added.
“I definitely would not have believed [Leicester could be champions]. Nobody would have believed it,” Ozil told German outlet Sport-Informations-Dienst.
“You can only take your hat off to Leicester. They enter every match at 100 per cent energy and therefore are rightly up there.”
Ozil has provided the highest number of assists in the Premier League this season (18).
The 27-year-old star would have had more assists to his name had it not been for the profligacy of his teammates. Ozil has created the most chances in the league (137) but Arsenal have the lowest goal record in the top four.
Arsenal take on relegation battlers Norwich City in the Premier League this weekend as they look to secure a third place finnish.