The Mexico international has been linked with his former club, which has a £4 million buy-back option.
"Arsenal are a great team that gave me the opportunity to come to Europe and I have great affection for, but right now I'm not there and when I was, I did not have the opportunities that I thought I should had," said Vela.
"I want to play in Europe and if we can't qualify this season, then I'd like to stay with Real and try again next year."
Has Vela shut the door on a return? Or can the Gunners convince him back? Give us your shout below...