It is just under two weeks since the summer transfer window opened for business but the Gunners boss has already added three new faces to his squad.
USA international goalkeeper Matt Turner, Brazilian prospect Marquinhos and Porto’s exciting attacking midfielder Fabio Vieira have all moved to the Emirates Stadium and more new signings will follow.
With several players expected to follow the likes of Alexandre Lacazette and Konstantinos Mavropanos out of the door, Arteta will now turn his attention towards filling the gaps in his squad as he looks to lead the club back into contention for major honours.
Several high-profile moves have been the source of much speculation in the media in recent weeks and a whole host of familiar names continue to crop up.
LondonWorld assesses the validity of nine reported targets that are rated highly in the bookmakers markets using odds from SkyBet.
1. Ivan Toney - 8/1
The Brentford striker impressed during his first season in the Premier League and has an admirer in Mikel Arteta. But it seems the Arsenal boss will look elsewhere as he looks to strengthen his forward line this summer. Photo: Getty Images
2. Alvaro Morata - 7/1
The Spain striker struggled to adapt to life in the Premier League during his time with Chelsea and it seems unlikely Arsenal will take a gamble on being the ones to give him a second chance to prove himself in England. | Getty Images Photo: Getty Images
3. Ruben Neves - 9/2
The Portugal midfielder has shone during his time with Wolves and is believed to be keen to test himself elsewhere. With Mikel Arteta looking to strengthen his options in the middle of the park, this could be one to watch this summer. | Getty Images Photo: Getty Images
4. Dominic Calvert-Lewin - 9/2
The England striker has been the subject of plenty of interest over the last few months and Arsenal have been repeatedly named as a possible destination. A move for Gabriel Jesus seems more likely, but the Everton frontman remains an option if that deal does not go through. Photo: Marc Atkins