Oxlade-Chamberlain admits he can relate to Walcott's career ups and downs.
He told the London Evening Standard: "Theo is five years older than me and a lot more experienced.
"I can relate even more to him because he came from the same club in Southampton. He also moved to a big club at an early age and broke into the England squad early, too. In a sense I'm doing a lot of what he did a few years ago.
"I'm sure Theo has had some tough times in his career but one thing he is really good at is just getting on with the job and focusing on the next opportunity to put that right.
"I had a few frustrating moments last season and some tough times but I can look at how Theo has dealt, and continues to deal, with things like that and it really helps me."