The heavy defeat in March ended any hopes Arsenal had of lifting the Premier League title and Oxlade-Chamberlain admits they need to raise their game on Sunday.
Arsene Wenger's side head back to Chelsea on the back of a 1-1 draw with Tottenham, a game that saw Oxlade-Chamberlain's goal rescue a point in the 74th minute.
The England international believes they can take confidence from that comeback and their unbeaten start to the league campaign to take revenge on Jose Mourinho's side.
"We do understand what happened there last season," he said. "Maybe we have got a point to prove there, we know this year we have got to step up in the big games and get some results in them.
"We're really looking forward to that game and I definitely think we can go there with confidence.
"We give Chelsea the respect they deserve – but, at the same time, I have belief in my team-mates and we believe in ourselves to be able to go to a place like Chelsea and set the tempo and hopefully take control of the game.
"There will be times in the game, I'm sure, when they have a spell because they are a top team.
"It's two good sides, they are going to have their time, we are going to have ours. We just have to make sure that when we do have our chances we make them count."
Ahead of Sunday's trip Arsenal face Galatasaray in the UEFA Champions League at the Emirates Stadium on Wednesday.
