Ozil found himself on the end of stinging criticism from the 66-year-old last month, after announcing his international retirement following Germany's World Cup debacle.
“We would have been spared the whole theatre," Hoeness told Sky Deutschland. “Ozil should have been forced to make a statement.
"But leaving that without explanation was probably the biggest mistake ever.
“I've been watching the player for a long time and he's a well-marketed product whose image is a lot better than he is, which is the only big blame for me.
“Had [Jogi] Low gone to Arsenal more often in London and looked at him properly, he probably would not have taken him for sporting reasons.
“It is a miracle that he is now [a] captain at Arsenal."