All three sides are looking to snatch him from the Hammers having seen the 15-year-old in action last season. West Ham are desperate to keep hold of him and introduce him to their first team, but there chances of doing just that look slim given the teams interested in securing his services.
Oxford has already appeared for West Ham's U18 side and is viewed by the east London club as one of their most promising youngsters. They are said to have offered him a brand-new bumper contract in order to ward off interest from the likes of Chelsea, Manchester United and Arsenal - but whether that works remains to be seen.
Premier League interest
Throughout the course of last season Manchester United, Arsenal and Chelsea are all said to have scouted Oxford and been impressed with what they saw.
He could be poached away from West Ham as the youngster hasn't been tied down to a professional contract because of his age - although the Hammers would be due compensation if he were to move.
Chelsea and Arsenal in particular have made a habit of snapping up the best young players available from England and around Europe in recent years, which has rubbed some clubs up the wrong way.
Chelsea snatched 16-year-old Isaiah Brown, who is the second-youngest player to feature in the Premier League, from West Brom last year before he could sign a professional contract at the Hawthorns at 17. That deal prompted a lengthy wrangle over compensation and angered West Brom Jeremy Peace, who complained about the lack of protection offered to stop big clubs stealing smaller club's players.
Away from the battle for Oxford, all three clubs face busy summers in the transfer market as they look to add to their respective squads.
Manchester United have added two new players in Luke Shaw and Ander Herrera but are expected to make at least two more signings, while Chelsea have done the majority of their business having already landed Cesc Fabregas, Filipe Luis and Diego Costa.
Arsenal meanwhile may have also been busy; they've signed Alexis Sanchez and Mathieu Debuchy with David Ospina set to follow shortly.