The former started the showpiece occasion in Rio de Janeiro, and played 119 minutes before being replaced by his Arsenal team-mate late on.
Ozil was in influential form throughout a tense match, creating two clear chances during normal time but Toni Kroos failed to finish both.
Argentina, meanwhile, had a golden chance to take an early lead but Gonzalo Higuain fired wide when put clean through on goal, before the same player had a goal chalked off for offside soon after.
Low’s side stayed firmly on the front foot though, and Andre Schurrle had an effort well saved by Sergio Romero, while Benedikt Howedes hit the post with a header just before half time.
The second half was a much tighter affair, with Lionel Messi coming close with a low shot from the edge of the area.
Rodrigo Palacio had a wonderful chance in extra time for Argentina but lobbed wide with just Manuel Neuer to beat.
Germany took full advantage of that miss as, with seven minutes remaining, substitute Mario Gotze took down a Schurrle pass and powered it past Romero.
That proved enough for Germany and their Arsenal trio of Ozil, Mertesacker and Lukas Podolski to lift the trophy.Copyright 2016 The Arsenal Football Club plc. Permission to use quotations from this article is granted subject to appropriate credit being given to www.arsenal.com as the source