The Gabon international, whose deal ends in June 2021, has scored 61 goals in 97 appearances since joining from Borussia Dortmund in 2018 but has yet to lift any major silverware in England.
"I haven't had an offer recently, but I did speak to the club quite a few months ago, and they know why nothing has happened yet," Aubameyang, who turns 31 on Thursday, told French football programme Telefoot.
"They have the keys. It is up to them to do their work and, after that, we will see how things go. It's a turning point in my career and I want to be honest with everyone. It'll certainly be a very difficult decision to make."
Arsenal, who travel to second-placed Manchester City when the Premier League restarts on Wednesday, were ninth in the table when football was suspended three months ago due to the Covid-19 pandemic.
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