The Gunners are set to hold contract talks with Ozil and fellow teammate Alexis Sanchez – who also wants a pay rise – according to the report.
The report claims that both players want a pay-rise and that the fall in the pound has only further complicated matters.
Ozil is Arsenal’s most expensive signing in the history of the club and had an impressive league campaign winning player of the season for his club.
The Germany international of Turkish origin does have another two-years on his contract but the Gunners reportedly want to lock him down on a long term deal.
The 27-year-old has provided the highest number of assists in the Premier League last season (19) and could have had a few more considering he also created the most chances in the league (122) since records began.