Having seen Oxlade-Chamberlain emerge as a key player for Arsenal in recent weeks, Graham reckons the 18-year-old is set for similar success.
"He reminds me so much of Wayne Rooney when he was first at Everton," the former Gunners boss told talkSPORT. "He's got a lovely barrel chest, he looks strong, he looks like a 25-year-old and he's got ability.
"When he is on the ball it is just a pleasure to watch him. I think he's going to be sensational. He is that good. If he can get some more games under his belt for Arsenal this season, why not take him [to the European Championship]?"