The LA Galaxy star has begun training with the Blues in a bid to make the squad set to travel to the Emirates this weekend.
"Any player wants to play a game like that," Donovan told evertonTV. "To play against Arsenal at the Emirates would be great if I get selected."
Donovan, who arrived in the UK on Saturday 2 January, accepts he may have to work on his fitness before David Moyes places him in the starting 11.
But Donovan revealed he's been keeping up his own personal training.
"The guys here at Everton are ahead of me because we've been off for a month now in the States," he told evertonTV.
"I have though done a lot of work over the last few weeks, training and getting myself ready," he added. "So if I can have a good week of training we will see!"
See Donovan star in a Mexican lottery commercial: