Cazorla has not featured for Arsenal since October 2016 after suffering Achilles and ankle problems - including losing eight centimetres from the tendon in his right ankle - which have required 10 different operations.
Arsene Wenger confirmed earlier in April that the club could offer Cazorla a contract extension with his current deal set to expire this season, while the Spaniard has targeted a return to competitive action in 2019.
Cazorla revealed last year that he almost lost his right foot to gangrene as an infection took hold, but the 33-year-old delighted Arsenal fans by taking to the Emirates pitch ahead of the Gunners' Europa League semi-final first leg against Atletico Madrid on Thursday evening.
The midfielder looked in high spirits as he jogged with Arsenal's head of performance Shad Forsythe and went through a series of ball drills, offering fans hope of a potential return after such a long time out of action.
Wenger had said of Cazorla earlier in April: "Yes, of course. We miss him a lot.
"I never spoke about it in the press conferences, or not many times, as he was not the subject of the day but we have missed him a lot in our game.
"He is an exceptional football player and it is very sad what happened to him, and very sad for Arsenal as well."