Ozil is yet to feature for Arsenal this season despite being the club’s highest earner on £350,000 a week.
The 31-year-old former Germany international was a regular when Mikel Arteta took over as manager last December but has not played for the club since March.
Ozil still has eight months left on his contract and Arteta recently indicated that it will be difficult for the former Real Madrid playmaker to force his way into his plans.
Also excluded from the list are Sokratis Papastathopoulos, William Saliba and the injured Gabriel Martinelli.
However, there is a place in the squad for new signing Thomas Partey, who joined the club on transfer deadline day from Atletico Madrid for £45m.
Arsenal begin their Europa League campaign against Rapid Vienna on October 22 while they also face Irish side Dundalk and Norwegian outfit Molde in Group B.
Arsenal's Europa League squad in full
Goalkeepers: Bernd Leno, Runar Runarsson, Matt Macey, James Hillson, Dejan Iliev
Defenders: Hector Bellerin, Gabriel, Rob Holding, Cedric Soares, Shkodran Mustafi, Calum Chambers, Pablo Mari, David Luiz, Sead Kolasinac, Kieran Tierney
Midfielders: Dani Ceballos, Willian, Ainsley Maitland-Niles, Thomas Partey, Mohamed Elneny, Granit Xhaka
Forwards: Alexandre Lacazette, Pierre-Emerick Aubameyang, Nicolas Pepe
