The midfielder has reportedly told the Gunners that he has no intention of signing a new contract and remaining at the Emirates next season, with the England international even prepared to sit out the final year of his current deal and leave on a free next summer.
Liverpool left on high alert after midfielder snubs new Arsenal deal
Having previously spoken of his desire to keep Oxlade-Chamberlain at the club, Arsène Wenger may not be forced into selling the versatile midfielder with it increasingly unlikely that he will sign fresh terms.
The 23-year-old believes he needs to quit the club in order to advance his career, having struggled to hold down a first-team spot for the North London outfit in recent years, and has turned down a contract believed to be offering him wages in the region of £100,000-a-week.
That will have put Liverpool on high alert, with the Reds strongly linked with the ex-Southampton player in recent months.
While their initial approach a few months ago was snubbed from Arsenal in the hope he would put pen to paper on a new deal, the Merseyside club are set to try again for the £25 million-rated player.
Klopp a strong admirer of Oxlade-Chamberlain
Having featured in a whole host of positions - central midfield, right wing, left wing and most recently in a right-wing back role, Oxlade-Chamberlain's versatility strongly appeals to Jürgen Klopp.
Liverpool are in desperate need of strengthening their squad this summer ahead of a much busier fixture list and Oxlade-Chamberlain's ability to tick a number of boxes would make him the ideal summer recruit.
With his pace, power and eye for a pass, it's clear to see why there is such strong interest from the Reds - though there are no guarantees there will be more substantial playing time on offer at Anfield than Oxlade-Chamberlain currently receives at Arsenal.
The Englishman's guile and energy both on and off the ball would fit seamlessly into Klopp's high-pressing system and with the player believed to be keen on a move to Merseyside, it is a deal that could well surface in the coming months.