However the Switzerland international insists he is unaware whether talks are taking place between Arsenal and his current club Borussia Monchengladbach.
The midfielder's comments come after Monchengladbach revealed earlier this week that they had received a bid for their club captain, for whom Arsenal offered £33.8m last week.
Xhaka is keen for any transfer to be resolved prior to Euro 2016 so that he can concentrate on the tournament.
In an interview with Swiss television channel SRF he said he could “absolutely” see himself playing for Arsenal but was evasive on the interest from the Gunners by saying he was the "wrong person to ask".
He added: “Whether there are talks or not, the clubs Gladbach and Arsenal know that, but as of now I am still a Gladbach player.
“It might change in the next weeks or it might not change.”
Arsenal are looking to move quickly in the transfer market following the conclusion of a disappointing campaign in which their title challenge fell away and they ended the season without a trophy.
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