Ozil, shrugging off his poor start to the season, equalised just before half-time and played a key role in Aubameyang's second-half double.
Along with Hector Bellerin, Pierre Emerick-Aubameyang and Alexandre Lacazette, Ozil was one of the stars of the show as the Gunners came back from 1-0 down to clinch their 10th win on the bounce in all competitions. "Proud captain of this team and this club!"
Leicester should have had a penalty in the 18th minute when Holding clearly handled the ball inside his own box, but the referee waved away the appeals, which were led by Harry Maguire.
Ozil summed up Arsenal mood, tweeting after the Arsenal vs Leicester match: "I think we played some sexy football tonight".
"Very important", Emery said of Ozil's leadership qualities.
Arsenal will now seek to make it 11 wins on the bounce in all competitions when they travel to Portugal to take on Sporting CP in the Europa League on Thursday.
Bellerin had to make amends and did just that when he crossed for Mesut Ozil to make it 1-1 just before the break.
Ozil played a superb pass to Bellerin and the Spaniard's low cross was just right for the unmarked Aubameyang to slot home from close-range.