The 30-year-old midfielder played a bit-part role in Unai Emery’s debut season.
He’s also earning £350,000-a-week which has led to speculation that he could be cut loose.
Farah – who is a diehard Gunners fan – reckons Ozil has plenty to offer, though.
“I’m Ozil in because he’s an incredible player,” said Farah.
“I know he gets a lot of hassle, but at the same time I’m a fan. I enjoy watching Ozil with his skills.
“I think if we can sign a couple of players, hopefully we can get in the Champions League.
“Top four is possible – as is a trophy – but you have to be realistic.
“I turned off the Europa League final [against Chelsea]. I shouldn’t say that, but it got to the 65th minute and I knew they weren’t coming back.”
Ozil has attracted interest from the likes of Inter Milan and Fenerbahce in recent windows.
But it is unclear whether any side will be prepared to match the German’s huge wage demands.
Arsenal finished a staggering 28 points behind title winner Manchester City last season.
Farah, however, insists Emery must be given time to mould the squad in his image.
“It’s difficult to compete with City and Liverpool at the minute because they’ve got such an incredible team and squad,” he added.
“At the start it was brilliant [under Emery], we started well. But like myself towards the end of a marathon, we died, it’s similar!
“Arsene Wenger did an amazing thing in his career but it took a while to build a team.
“I think definitely it’d be good to have someone like back in the day – a Tony Adams or Lee Dixon – someone that’s commanding and strong.”
Arsenal boss Emery is keen to strengthen his backline but is bound due to the lack of funds being offered to him from the board.
The Spaniard spent big last summer but was forced to shop around for loans in January as Arsenal chiefs refused to sanction permanent deals.
Shkodran Mustafi and Laurent Koscielny have both been linked with moves away from the club this summer.
The former insists he wants to remain at the Emirates, despite sections of the fanbase voicing their displeasure with the German in recent months.
Saint Etienne youngster William Sadiba, 18, has been heavily linked with Arsenal in recent weeks.
SoccerLink also claims Lorient starlet Alexis Claude-Maurice is on his way to the club.
* Soccer Aid for Unicef will be broadcast live on ITV on Sunday 16th June, starting at 6.30pm. To donate to Unicef, visit socceraid.org.uk