Though the addition of Lemar would leave further question marks over Walcott's future at the Emirates, the 28-year-old said that he would relish the challenge.
In an interview with Talksport, Walcott said: "I'm 28 now. I've dealt with competition throughout the years. I always welcome it."
"It always gets something out of you as well when other players become involved. You will see Alexandre coming in and other centre-forwards in the dressing room will be thinking, 'right, I need to step up.' That's always the way it is."
"It is healthy. You have got good options then as well. Who knows who else the manager will bring in. We don't know. We just get on with our job and try to get fit."
The coming season promises to be a big one for Walcott, with many onlookers believing that he has yet to really make the most of his talent. Perhaps the addition of a top quality rival in his position is just the push he needs.