The former Valencia defender has another two years remaining on his current contract but his father Kujtim suggests a move is on the cards.
"Shkodran had a great time with Arsenal. We still have a contract for two years and can imagine to stay in London," he said in a statement.
“However the best for both sides is probably to work on a transfer. But for that it also needs market-driven transfer-fees."
Mustafi was linked with Monaco earlier this summer while a return to his homeland could also be on the cards before the end of the month.