Lacazette said the reason he turned down PSG was because he wanted to test himself in another league.
The 26-year-old revealed he held talks with PSG executives before opting to move to the Premier League.
The French International became Arsenal’s most expensive signing in a deal with Lyon reportedly worth £52.7 million in July.
Lacazette, who has scored four goals in seven Premier League appearances, said he could have remained in his homeland with PSG.
“We talked to PSG but I knew it was not where I wanted to go. In France, I would only play for Lyon,” Lacazette told RMC Sport.
He said, “PSG could have helped me progress because of the big players they have but I wanted to play in another league.”
It has been a difficult start to the season for Arsenal, though Arsene Wenger’s men are seven matches unbeaten in all competitions since their 4-0 rout at Liverpool.
Arsenal are fifth in the Premier League, six points adrift of leaders Manchester City, while the Londoners have won their opening two Europa League fixtures.
“I believe in the title, whether in the Premier League or in the Europa League,” Lacazette said.