The Gunners enjoyed a 2-1 FA Cup quarter-final win over Manchester United on Monday.
But the victory was tempered when Oxlade-Chamberlain limped off in the second half with a hamstring injury.
The Daily Mail has it that Arsenal fear Oxlade-Chamberlain could be sidelined for up to four weeks.
He had a scan yesterday and is expected to have further checks today before a definitive diagnosis is made.
If their worst fears are confirmed, Oxlade-Chamberlain will miss a clutch of key games including Arsenal's visit of West Ham, the Champions League clash with Monaco as well as the visit of Liverpool in the Premier League next month.
It would also put him out of England's double-header against Lithuania and Italy.