The Gunners last won the league title back in 2003-04 but went into the new year as leaders with reigning champions Chelsea almost certainly out of the title race.
Özil revealed that he has full trust in his teammates and that he expects the Gunners to be even better over the second half of the season.
“I trust the team and my teammates we are currently leaders and have shown exactly why we are one of the favourites to win the league,” Özil told Fanatik.
The World Cup winner also underlined that the current team is well settled and that there is strength in all areas.
Özil does however, believe that injuries could prove to be a problem and wished a speedy recovery to his teammates on the sidelines.
“We are more settled compared to last season and there is a great synergy between us,” he added.
“Our main problem is injuries if our injured players recover it is only going to make us stronger.”
Özil spent over three months last season out on the sidelines but has managed to stay injury free over the 2015-16 league campaign.