Ozil is one of two changes from the side that beat Fulham 5-1 before the international break.
Stephan Lichtsteiner starts at left-back with Nacho Monreal and Sead Kolasinac both out.
On the bench, Emery has Welbeck, Aaron Ramsey and Pierre-Emerick Aubameyang.
18-year-old Zach Medley is also on the bench as cover.
For Leicester, there is just one change to their team.
Jonny Evans replaces suspended captain Wes Morgan.
Jamie Vardy, who scored three goals from five appearances this season, starts in attack.
Ben Chigwell, who made his debut for England, starts at left-back.
Arsenal: Leno, Bellerin, Mustafi, Holding, Lichtsteiner, Torreira, Xhaka, Iwobi, Mkhitaryan, Ozil, Lacazette
Subs: Martinez, Medley, Guendouzi, Smith-Rowe, Ramsey, Welbeck, Aubameyang
Leicester: Schmeichel, Amartey, Evans, Maguire, Chilwell, Pereira, Mendy, Ndidi, Maddison, Iheanacho, Vardy
Subs: Ward, Soyuncu, Albrighton, Okazaki, Iborra, Fuchs, Ghezzal