The Gunners launched an unsuccessful bid for the 25-year-old during the January transfer window, with his club Dalian Yifang refusing to sell.
But the former Atletico Madrid star told theSunthat he is aiming to return to European football this summer after a year-and-a-half in China.
“There was interest from Arsenal and I had a lot of teams in January giving me the chance to go back to Europe, but here the president said it was difficult to go then,” he said.
“Maybe this summer it is possible. If it is a good thing and I want to go, maybe I can speak with the president.
“I try to do my best because I am a professional for my team, and after we can think about a solution. If I have a lot of teams who want me but the president decides I have to stay, I cannot do anything.
“All that you want is to be close to your family, and to go back to Europe is a good solution.
“I’m OK here, the club is good with me, the players and fans also are nice with me.
“But you know, when you are far from your family, and I think I can do good things in the European game, I am thinking it’s a solution if I can go back.”
Carrasco’s wife Naomie Happart has returned to Belgium after living with him in China for one year, and he is keen to get back to Europe, hinting that England is his destination of choice.
“All the people know England is one of the best championships in the world, it’s a big competition,” he added.
“The players who play in the Premier League tell me it is a physical league, strong, but you also have a lot of space.
“Sometimes when you play in other countries you do not have a lot of space but in England it is open, the play is up and down the pitch.
“That would suit me. I think I can play in a lot of competitions in the world, I can attack and also I can defend.
“With the national team I play as a winger, but also I can play in behind. England would be a good competition for me. I think I would be OK.
“If I have the opportunity to go to England, why not?”