During the first half of the campaign, Ozil was frequently linked with a move away from the Emirates Stadium with less than a year remaining on his deal.
However, in February, the German international committed his long-term future to the Gunners, and the playmaker says that he is confident of winning "some titles" with the North London outfit.
The 29-year-old told Arsenal Player: "At the end of the day, it was really easy for me to say 'yes' to the club. I'm here for more years and I hope we will win some titles with the team. I believe in that. I'm really happy to sign here for such a big club like Arsenal. I've always said to the club that I'm happy here and now I've signed, I'm really happy.
"My teammates and family have always supported me. I have a lot of goals here with the team, I want to reach those and I'm really happy. I love the city. Before I signed the contract, I spoke with my family about what the best decision was for me."
Ozil has contributed five goals and 10 assists from his 29 outings in all competitions this season.