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The 23-year-old has just a year to run on his current deal, and has refused the chance to commit his future to the Gunners over worries over regular playing opportunities.
Oxlade-Chamberlain joined Arsenal back in 2011 but is yet to nail down one regular playing position, with his preference being to focus on a future in central midfield.
However, he has recently impressed as a right wing-back in Arsene Wenger’s new 3-4-3 formation, leading the Frenchman to say it is ‘vital’ for Arsenal to keep hold of him this summer.
According to The Times, Arsenal hope to start discussions over the England international’s future in a week’s time, with worries over interest from Merseyside.
‘I’m not here to talk about my future, so I’ll leave that there,’ Oxlade-Chamberlain said when asked about his situation.
‘I have spoken to the manager a few times and he says he sees me ending up (playing centrally). I really enjoy playing in midfield and thought this is where I want to be able to play moving forward. That is my main ambition, to end up playing there.
‘It’s a tricky one to nail me down to one position. My attributes do go hand-in-hand with playing out wide as well. Long term, I’d hope I end up playing more central.’