His return comes at a crucial time for Arsenal with the title race heating up and only nine points separating the top six.
Oxlade-Chamberlain said: "This year it does seem to be really tight, especially the top half of the table.
"There's no real differentiation between the top four and the other teams.
"There is so much quality high up the league and everyone is winning when everyone else is, and at the times when teams drop points, so does everyone else.
"That is credit to the clubs that find themselves in the bottom half, because they are of high quality as well.
"It is a really tough year and you can't see who is going to do well in terms of winning the league or who is going to go down. That is what makes it so exciting."
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