The Brazilian midfielder won two Premier League titles as well as the Europa League during his four-and-a-half year stint at Stamford Bridge.
The 29-year-old is now playing for Chinese Super League side Shanghai SIPG but admits he is keen to return to Europe once his £400,000-a-week contract ends in 2024.
Oscar says he would welcome the chance to have a second stint at Chelsea but claims Willian and David Luiz have been urging him to make the move to the Gunners.
‘They called me, they had to call me. Because we have good communication,’ Oscar told Fox Sports.
‘Sometimes I talk to them. They said, ‘come to Arsenal, come here’.
‘But for me it’s a little more difficult.
‘I have a contract with Shanghai, it’s a little more difficult to leave. Willian had finished the contract.
‘I was happy that they got together again. And happy that Willian is happy.
‘The most important thing is to be happy, regardless of the place. So I hope they are happy there.
‘I really want to go back to Europe. Not now. At the moment I’m well here in China, I still have my contract here, which I hope to fulfil.
‘And I’ve had approaches, I’ve had approaches from some clubs to go back. But the situation is difficult for me to return, it’s a little more complicated for me to get out of here.
‘So I hope to fulfil my contract here calmly and then yes I think about going back to Europe.
‘And when I was a child I watched the Italian league a lot because there were many Brazilians there.
‘So there are some teams from Italy that I like a lot, like Inter, AC Milan. So I would think about going to the Italian league if I return one day.’