Ozil, 32, had been axed from Mikel Arteta’s Premier League and Europa League squads at the start of the season, meaning he was unable to play a single minute for the Gunners this season despite being on a £350,000-a-week salary.
It had been clear for a while that Ozil’s future lay away from north London, though the World Cup winner had been weighing up multiple offers.
However, when his boyhood club Fener came calling, it was clear that Ozil’s desire was to move to Istanbul.
Arsenal’s technical director Edu said: “We thank Mesut for his huge contribution to Arsenal. He has made more than 250 appearances, played in three Emirates FA Cup final wins and has given the fans and everyone at the club many wonderful moments on the pitch since he joined us in 2013.
“We would like to thank Mesut and his team for their professionalism during our recent negotiations. I know everyone associated with Arsenal will join me in wishing Mesut and his family the best of health, success and happiness in the next chapter of his career.”
Coach Arteta said: “Mesut’s achievements at Arsenal are undisputed. It was a privilege to play alongside him and, more recently, coach him. His creativity and vision led to many goals during his time in the Arsenal shirt.
“Mesut was at the heart of many great moments for this club over the years, including those three FA Cup final wins. These successes will always be part of our history. We thank Mesut and wish him all the best with Fenerbahce.”
Ozil said: “I’d like to thank the club for this amazing journey over the past seven-and-a-half years. The support I have felt from the team and fans during my time here has been truly incredible and something I will always be grateful for. Together we won trophies for the first time in years and created memories that will last a lifetime.
“The Arsenal fans will forever remain in my heart. I’d like to thank Edu Gaspar for helping bring about a professional and dignified solution in the past few days, and I wish everyone at the club the best in their attempt to continue to bring Arsenal back to the top, where we belong.”