A final-day victory over Newcastle prompted scenes of elation among the Gunners but the Swede believes that only an end to the club's eight-year trophy drought is success.
Arsene Wenger's men saw off a stiff challenge from North London rival Tottenham with a 1-0 victory over Newcastle at St. James' Park on the final day of the season, prompting elation at the final whistle.
Should they negotiate a two-legged qualifier, next season will be Arsenal's 16th consecutive campaign in the Champions League, but the club's eight-year wait for silverware continues, and Ljungberg, who won two Premier League titles and three FA Cups in his time with the Gunners, believes that only trophies should spark such feelings of joy.
"I'm not too happy about them celebrating fourth place," the former Seattle Sounders and Chicago Fire man told reporters. "I'm from the old school where, if you don't win a trophy every year, then it is a big failure.
"We will see what happens in the summer, and hopefully Arsenal will have a better team next season."