Arsenal have confirmed the duo are "fine" after vision was circulated on social media of Kolasinac seen jumping out of a vehicle to confront the masked aggressors, who had pulled alongside the car on mopeds.
In the footage, both men were seen to be armed and were filmed brandishing knives at 26-year-old Kolasinac.
"We have been in contact with both players and they are fine," an Arsenal spokesperson said.
Kolasinac and midfielder Ozil are not the first London-based footballers to be targeted on the road.
In 2016, then West Ham United striker Andy Carroll was threatened at gunpoint on his way home from training.
Police, who had received reports of an attempted robbery, went to Platts Lane, in north west London, shortly before 5pm, according to Scotland Yard.
"It was reported that suspects on motorbikes had attempted to rob a man who was driving a car," a spokesman said.
"The driver, along with his passenger, managed to get away unharmed and travelled to a restaurant in Golders Green, where they were spoken to by officers."
The spokesman said there have been no arrests and officers are still investigating the incident.
