The 22-year-old joined Basaksehir on a permanent deal during the recent transfer window, having spent the 2019-20 campaign on loan with the Turkish outfit from Hamburger SV.
Ozcan has been a vital player for Okan Buruk's side during the current season, already making 15 appearances in all competitions, including five outings in the Champions League.
According to Transfermarkt, the midfielder's performances this term have caught the attention of Arsenal.
The report claims that the Gunners first tracked Ozcan in 2017 when he played for Stuttgart and could now attempt to bring him to the Emirates Stadium.
The three-time Turkey international has a contract with his Istanbul club until June 2024.