Alaba has been one of the key members of the Bayern Munich team since he came up through the youth ranks in 2010.
But the versatile defender, who can also play in midfield, believes he could have a future in another league.
"We'll see [what happens in the future]," Alaba told The Times.
"I know the Premier League very well because I followed it a lot when I was younger. I supported Arsenal. Patrick Vieira was one of my favourite players.
"At the moment I don't think too much about it, but I can imagine playing somewhere else."
Alaba has a contract until the end of the 2020-2021 season at Bayern.
The Austrian 27-year-old is an Arsenal fan from his childhood.