Ozil was back to his best in Arsenal's 3-0 win over West Ham, scoring one goal and creating another as the Gunners marched back into the race for the Champions League.
The win ensured Arsenal moved up to fifth and within four points of the top four following Manchester City's 2-1 loss at Chelsea.
Slaven Bilic has admitted that West Ham United now find themselves in a relegation battle.
But once the home side got their noses in front, they were able to dictate play and Walcott slid home a second from Ozil's cross, before substitute Olivier Giroud curled home a third with seven minutes remaining.
"He is focused. I know him quite well", said Wenger reflecting on Ozil's struggles that followed the 10-2 aggregate defeat by Bayern on March 7.
Arsenal captain Per Mertesacker added: "We are really capable of going on good runs". When we won six games out of nine, which was right before these five defeats, I was saying we are in a good situation but there are still lots of points to play for and there is a job to be done. We have scored over 100 goals this season already so going forward we were always good but defensively we were not good enough.
"I wouldn't just say the goals (helped his confidence), you could see it was slowly starting to come back", the England global told Arsenal's official site.
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Ozil then set up Theo Walcott to angle in the second, capping a performance that may appease sections of the support unhappy with him and Wenger.
Speaking afterwards a visibly relaxed Wenger said: "It's possible of course [to finish in the top four] if you look we have a game in hand".
Wenger has struggled with his midfield since Santi Cazorla was injured previous year, adds the journalist, but the combination of Elneny and Xhaka appeared to click. "It's not being negative, it's being realistic", Bilic told BBC Sport.
"I will never stop believing in myself but to get, or to keep, other people believing, people who are not involved in training or the amount of work I do here, you have to deliver the results and now it is about time".
In a game that both sides needed to win, the first half lacked quality and excitement.
"I have had those kinds of games before and some of the players have had those kinds of games", he said. "Overall I think they have done it before in more hard conditions, but we have to try to do it again, yes".
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