The Arsenal stars were in the Golders Green are of north-west London when the incident took place.
Ozil and Kolasinac were thought to be followed on their way to visiting one of their most frequented restaurants.
They were in the Germany international’s distinctive Mercedes SUV with their wives; both players got married this past summer.
Ozil is reported to have left the car and run into the restaurant to get help, while Kolasinac decided to deal with the attackers head on.
Both the robbers were armed with long knives and equipped with motorcycle helmets, but that didn’t stop ‘The Hulk’ – as he is known in his homeland of Bosnia – from taking them on with his bare hands.
The attackers are believed to have fled the scene following their encounter with Kolasinac.
Police report that nobody was hurt and an Arsenal spokesperson said: “We have been in contact with both players and they are fine.”