The Gunners are looking to top the Premier League for the first time since 2003/04, and their manager, 43, has now said the club's summer transfer window – which saw them spend roughly £250 million – has given Arsenal a great opportunity to lift a trophy this season.
Speaking with Ally McCoist on Ally's Social Club, he said: "It’s been excellent for what we needed, and what we wanted to achieve.
"We are very lucky players want to come to Arsenal now and they prefer to go to Arsenal than somewhere else, and this is an unbelievable power as well that we have built and gives us our very best chance.
"We talked last year about the Premier League and we’ve been three years there with the amount of points that normally you are the Premier League winner, but the level is somewhere that has never been before which is great.
"In terms of recruitment, we’re in a much better place in terms of the squad last year. We’re trying to do everything that we can."
At the time Arteta took over as Arsenal's manager in December 2019, the Gunners were sitting in 10th place in the Premier League, though he has since pushed the club back as real title challengers.
Now, Arteta is hoping to get Arsenal across the line and bring glory to the club once more.
He said: "I think we built those expectations, from where we were and everything that we built, that was the aim.
"That was the project and what we want to do - winning major trophies consistently at the elite level.
"Winning is winning trophies and a lot of things we won throughout this period, changing the culture, making a very clear identity and philosophy of the football club, transmitting an unbelievable feeling to the rest of our supporters, being in the Champions League, working towards the major trophies, winning some trophies … that’s a lot of things."
Arsenal – who are currently sat in second place just behind Liverpool in the Premier League – are due to face off with Athletic Club in their UEFA Champions League opener later today (09.16.25).