Chamberlain, 18, has featured in just one Premier League game since arriving at Emirates Stadium from Southampton in the summer.
But he is expected to start his second Champions League tie away to Olympiakos on Tuesday evening, having scored on his European bow against the same opposition back in September.
But Southgate, himself capped 57 times by England and a veteran of two European Championships campaigns, believes the Gunners starlet has enough time and raw talent to stake a claim for inclusion in Fabio Capello's 23-man squad for next year's tournament in Ukraine and Poland.
"Oxlade-Chamberlain is one that might [make a late push], depending on how much football he gets at Arsenal between now and the end of the season," Southgate exclusively told FourFourTwo.com.
"He’s had a fantastic impact in the under-21 matches I’ve seen him play in. He’s highly versatile, yes he has predominantly played out wide but he can also come inside and cause problems for the opposition.
"He seems to have that knack of getting into the areas of the field where his team most needs that creativity. He has great pace but he can also select the right pass at the right time, he looks a really exciting prospect."
Gareth Southgate was speaking on behalf of Carlsberg, The Official Beer of The England Team. Carlsberg will be giving away tickets to Euro 2012 throughout the season. Keep checking Facebook.com/CarlsbergForEngland for your chance to watch England in next summer’s EURO 2012™ Championships.
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