The Spanish playmaker says the Gunners need to target players who can improve the team and help the club challenge for silverware.
Arsene Wenger's side has been linked with a move for Liverpool's wantaway striker Luis Suarez throughout the summer, but the club's improved 42 million pound off for the controversial Uruguayan was rejected.
So far, Arsenal has only signed one player in the transfer window, France Under-20 starlet Yaya Sanogo, but Arteta is convinced the club will manage to pull off a major signing before the deadline passes.
“The club is working on that [a big-name signing],” Arteta told the Evening Standard. “It is in their hands and I am sure they are going to do it.
“If we can add something, we will do. But it’s very difficult to predict if something will be sorted out before we play in the Champions League qualifier.”
Arteta is adamant the club needs to bring in new faces and welcome reinforcements, believing new signings can improve the squad and help them end an eight-year wait for silverware.
“If the club can target players who will improve the team they are going to be very welcome, because that is what we want — a better team, better players to compete and win trophies,” Arteta said.