The Spaniard has penned a three-and-a-half year contract at the Emirates, leaving his position as assistant coach at Manchester City.
And Arteta has outlined the conversations he had with both Stan Kroenke and Josh Kroenke, as well as senior figures at the club, which helped to convince him of their ambition.
“This is a huge honour. Arsenal is one of the biggest clubs in the world. We need to be competing for the top trophies in the game and that’s been made very clear to me in my discussions with Stan and Josh Kroenke, and the senior people from the club,” Arteta said.
“We all know there is a lot of work to be done to achieve that but I am confident we’ll do it.
“I’m realistic enough to know it won’t happen overnight but the current squad has plenty of talent and there is a great pipeline of young players coming through from the academy.”