Ecclestone, whose personal fortune is valued at £2.2billion, is a friend of former Gunners vice-chairman David Dein who walked out of the club last season after a boardroom row over a possible takeover.
Arsenal are currently valued at £432million but, after the Dein fall-out, five directors who own 45% of the club signed an agreement to resist any takeover and that does not expire until next April.
However, that has not put off Ecclestone.
"It was David who mentioned it. The directors at Arsenal don't want to sell and have signed a lockout agreement for a year, so we will have to wait and see what happens then," he told The Times.
"A lot can change in that time. I am still very interested. If I could buy Arsenal I would, but I would want control."
American sports magnate Stan Kroenke has been linked with a possible takeover, having spent £65million for 12.2% stake in the club in the last year.
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