The England international was the benificary as team-mate Son Hueng-min was fouled in the area by Gunners midfielder Granit Xhaka late in the first half with Spurs already leading 1-0.
Kane stepped up to take the penalty and slammed home a confident finish, sending Arsenal goalkeeper Bernd Leno the wrong way much to the disappointment of the Gunners faithful at the Emirates Stadium.
In doing so, Kane brought himself level with the Emmanuel Adebayor and Bobby Smith with 10 each in fixtures between the two London rivals.
The late Smith starred for Spurs between 1955 and 1964, scoring 176 times in 271 games for the club.
Adebayor is among the few people to have scored for both sides of the derby, netting eight times for Arsenal and twice for Spurs.
Kane does hold the goals record for the Premier League fixtures between the two clubs, as all 10 of his tallies came in the English top-flight. Adebayor scored two of his 10 goals in cup matches between the teams.
The England striker has enjoyed plenty of success against Arsenal of late, having scored in his last four Premier League matches against the Gunners.
10 - No player has scored more goals in games between Arsenal and Tottenham Hotspur in all competitions than Harry Kane (joint-most with Emmanuel Adebayor and Bobby Smith). Occasion. pic.twitter.com/7GeXJg7J3o— OptaJoe (@OptaJoe) September 1, 2019
Kane’s penalty put Spurs up 2-0, following Christian Eriksen’s opener, his 50th in the Premier League, though Alexandre Lacazette would bring the Gunners back within a goal in first-half stoppage time. Pierre-Emerick Aubameyang then equalised for Arsenal in the second half.
The Spurs striker nearly took the record for himself outright in the second-half, but hit the inside of the post.
It perhaps should not have been surprising to see Kane have the opportunity from the spot in a North London derby, as the fixture has seen plenty of penalties through the years.
In fact, Kane’s spot kick goal was the 19th scored in the fixture. No other Premier League fixture has seen more penalties scored.
Both clubs went into the latest derby looking to rebound off defeats the previous week.
Arsenal had their perfect record in the Premier League ended with a 3-1 defeat at Anfield to Liverpool.
Spurs followed up an encouraging draw against Manchester City with a shock 1-0 defeat to Newcastle, and had taken only four points from their first three Premier League games.