The 23-year-old, who joined the Gunners in a £9.1m deal from Southampton in 2006, scored eight goals in 35 Premier League appearances last season.
Chelsea and Liverpool have been linked with a move for the England international, while the Saints are also reportedly keen to bring the forward back to St Mary’s.
But Walcott, whose current contract expires next summer, appears to have to underlined his desire to stay at The Emirates and is expecting a deal to be finalised eventually.
“The club and my agent are talking but it is a slow process and my last contract took six months to agree – but it will come,” Walcott was quoted as saying by the Daily Star Sunday.
“We’ll see what happens but I am not too bothered about it. I am keen to work with the team just trying to get fit and there is still got a long way to go yet.”
Walcott was quick to rubbish reports he was set to quit the club last week after revealing that talks over a new deal were only ever going to begin after the European championship.
“It was always going to be [a case of] hold back until the end of the Euros. We continue to talk and we’ll just see where it goes,” Walcott told Sky Sports.
“[The speculation has not been unsettling] at all because I didn’t have a clue about any other clubs, anything.
“I’m an honest guy. I like to get on with my job. I’ve got to work on pre-season, I don’t want any distractions.
“Like I say, my agent and the club will continue to talk and when there’s something to know I’ll get involved.”
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