The former Southampton youngster has been bedevilled by injuries since making the move to Anfield in 2017 and has struggled to become a consistent part of Jurgen Klopp's plans.
With Oxlade-Chamberlain out of contract at Anfield in the summer of 2023, Liverpool are supposedly willing to cash in on a player who only managed 17 appearances for the club across all competitions last term.
Here, Sports Mole looks at how Arsenal could line up should they re-sign Oxlade-Chamberlain next summer.
With Mikel Arteta supposedly keen to shift Arsenal from a 4-2-3-1 to a 4-3-3 in the near future, a space would open up for Oxlade-Chamberlain to feature in the heart of midfield alongside creative hub Martin Odegaard and enforcer Thomas Partey.
Such a move would see Granit Xhaka's spot at risk - in spite of Arteta's trust in the Switzerland captain - as despite his injury woes, Oxlade-Chamberlain still has a lot to offer at 28.
There is more uncertainty surrounding the focal point of the attack, especially with Alexandre Lacazette seemingly set to leave on a free and rumours around Ollie Watkins and Dusan Vlahovic swirling, but Pierre-Emerick Aubameyang would likely continue up top next term.
Oxlade-Chamberlain will not have any familiar defensive names to rely on if he returns to the Emirates, with summer signings Takehiro Tomiyasu and Ben White already establishing themselves as key players alongside the equally important Gabriel and Kieran Tierney.
Aaron Ramsdale retaining his place in goal would see Arteta line up with five Englishmen should Oxlade-Chamberlain make the return to the capital, but rumours of a swoop for their former player have already received mixed responses from Gooners.
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