Saka was born to Nigerian parents and has represented the youth teams of the Three Lions.
However, the 18-year-old is yet to feature for the English senior side, which makes him still eligible for the Super Eagles.
“I am always thinking about it but I haven’t made a decision yet,” Saka told BBC Sport.
“No-one has been in touch but when I make a decision you will find out.”
Saka made his senior debut for the Gunners in 2018 and became the first player born in 2001 to play in the top flight in January 2019 at 17.