The 20-year-old Frenchman is being eyed as a potential January target, after falling down the pecking order in north London.
Gunners boss Arsene Wenger is a big fan of Coquelin's, but with the likes of Mikel Arteta, Alex Song, Aaron Ramsey, and Abou Diaby currently ahead of him in the queue for a place in the Arsenal midfield, the youngster is eager for regular first-team action.
Coquelin has already spent a season on loan at Lorient, but returned to the Emirates Stadium in the summer, in the hope of breaking into Wenger's senior side.
But with Jack Wilshere also set to return in the New Year, competition for places is only going to intensify at Arsenal, and so Coquelin may look to engineer a move away from the Barclays Premier League.
"I have not had direct contact with them, but it's flattering [to be linked]," he told L'Equipe. "LOSC is a very big club.
"For now, the transfer window is not open and I am focused on Arsenal, but when there really is interest, we'll see what happens.
"In my heart, I know I can do something in this Arsenal team! But to be the best, I need regular matches."