Goal.com exclusively revealed earlier today that Gunners manager Arsene Wenger was considering resting the Dutch striker, with the north London derby against Tottenham coming up at the weekend.
Theo Walcott, Laurent Koscielny and Gervinho are all missing while former Southampton youngster Alex Oxlade-Chamberlain is among the starters and partners experienced midfielders Mikel Arteta, Andrey Arshavin and Tomas Rosicky.
Alex Song starts in the slightly unfamiliar role of centre-back alongside deadline-day summer signing Per Mertesacker.
Marouane Chamakh, deputising in the striker role in Van Persie’s absence, will be hoping to get his name on the scoresheet to help revive his stuttering Arsenal career.
Greek side Olympiakos will be hoping to cause an upset at the Emirates although the Gunners are unbeaten in 21 Champions League group stage home games, winning 17 of them – running all the way back to 2003.
Arsenal: Szczesny; Sagna, Mertesacker, Song, Santos; Frimpong, Arteta; Oxlade-Chamberlain, Rosicky, Arshavin; Chamakh.
Subs: Fabianski, Park, Van Persie, Ramsey, Jenkinson, Gibbs, Coquelin.
Olympiakos: Costanzo, Mellberg, Holebas, Marcano, Torosidis, Ibagaza, Fejsa, David Fuster, Orbaiz, Djebbour, Mirallas.
Subs: Megyeri, Modesto, A. Papadopoulos, Potouridis, Makoun, Abdoun, Pantelic.