The 23-year-old teamed up with the Toffees on transfer deadline day, becoming the seventh summer signing by Marco Silva after Ivory Coast’s Jean Philippe Gbamin, Moise Kean, Andre Gomes, Fabian Delph, goalkeeper Jonas Lossl and Djibril Sidibe.
Iwobi joined the Goodison Park outfit on a five-year deal for a fee of an initial £28 million, which could rise to £34 million with potential add-ons.
The winger started in the Gunners academy before breaking into the first team, where he went on to make 149 senior appearances for the side, scoring 15 goals.
The Nigeria international, who was a regular member of Unai Emery’s squad last season, has lifted the lid behind leaving the club where he grew from a boy to a man.
“I spoke to the manager and Marcel [Brands] and they almost lured me in,” Iwobi told Everton TV.
“The offer was too attractive for me to turn down. The manager was telling me, ‘There is a spot for you, we will take care of you’. Basically, all the things you want to hear as a player.
“I always had that youngster tag at Arsenal, so hopefully with this move I am able to make a name for myself in the Premier League and create history with Everton.”
The forward also lauded the other summer signings by the Toffees and hopes manager Marco Silva will help them to achieve great success with the club.
“It is exciting times for Everton. I was able to look at the transfers and players they have brought in – some great talent,” he continued.
“It is not just me. There were quality players here before [the summer] and they are still here. The manager has worked with Richarlison for a long while and made a name for him.
“Hopefully he can do the same for not just me but Moise Kean and a few others who came in, too.”
Iwobi is yet to make his debut for Everton after missing their Premier League opener against Crystal Palace last weekend.
The forward could be involved when the Toffees take on Watford in their next league game on Saturday.