The Reds hero believes the England international will struggle to get into the midfield three at Anfield if everyone is fit though.
Liverpool wrapped up a £40m deal for Oxlade-Chamberlain this morning as he turned down Chelsea to link up with Jurgen Klopp.
Carragher said: “I’m not sure Oxlade-Chamberlain when everyone is fit will get in that midfield three.
“There’s still Coutinho and Lallana to come back, players who performed so well. It remains to be seen, to me, how that one is going to work.
“I think he’s a good player for the squad at the moment but central midfield, I’m still scratching my head on that one. I haven’t seen enough of him in that position yet.
“Credit to him, he wants to further his career. He thinks he’ll get more out of working with Jurgen Klopp at Liverpool.
“Buying him for that amount of money with 12 months to go, there must be a plan in place. I’m interested to see how that one works out.”
Arsenal are not currently set to bring in a replacement for Oxlade-Chamberlain but they have been linked with Julian Draxler and Thomas Lemar today.
Those moves are said to rely on Alexis Sanchez moving to Manchester City though.
Oxlade-Chamberlain is currently on international duty as England get set to face Malta tomorrow night.
