The report states that Ozil is set to be rewarded with a new contract worth approximately £8.2million-a-year – which would be the most expensive salary package the club have ever offered to a player.
Ozil has been in sensational form this season and has won back-to-back Vitality Arsenal Play of the Month awards over the last two months.
The World Cup winner has played a key role in the north London based side reaching the Champions League Last 16 for the 15th consecutive season.
Arsenal take on Manchester City next Monday in a critical league encounter which could see the Gunners go top. Ozil has won back-to-back FA Cups since joining Arsenal from Real Madrid.