The France international was the subject of a £29.3million offer from Arsenal in 2016.
But Aulas turned down the bid and Lacazette opted to remain with the Ligue 1 club.
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Arsenal fans reflect in their woeful defeat to Chelsea on Saturday
However circumstances now appear to have changed and Aulas says he will not stand in the 25-year-old's way if an opportunity to join a big club comes at the end of the season.
"If one day there is an opportunity, of course, as we did with Sam [Umtiti] and Abi [Eric Abidal] in Barcelona or Karim [Benzema] in Madrid or further in time with Ludo [Giuly] to Monaco, who left, why not?" Aulas told OL TV.
Lyon striker Alexandre Lacazette
"Alex has wanted to play in a great club and Lyon does not object. We are perfectly in line."
Aulas' comments come after Lacazette admitted he needs to leave Lyon to progress.
Alexandre Lacazette could leave Lyon in the summer
“I think that the right moment has arrived to leave,” Lacazette told French outlet Canal+.
“I think that this summer I will need a change of scenery and discover something else, still with the idea of advancing and progressing in terms of football and as a person.
“I will continue to work, in the hope that good opportunities will come this summer.”