Cech spent 11 years at Stamford Bridge and won a host of trophies including four Premier League titles and the Champions League.
In his final season at Chelsea, Jose Mourinho preferred Thibaut Courtois to Cech as his first-choice goalkeeper - a decision which triggered the 33-year-old's move to Arsene Wenger's side.
"[He brings] experience, commitment, I think he will be a really good example for the other lads because his ambition is still intact, even though he's won many trophies with Chelsea," Arteta said.
"When you get to know him you realise that it's why he's won. Those type of signings give a lift to the whole team.
"And the decision he's made as well, to come here, because he knows he's going to get some pressure and some stick from the Chelsea fans because he's a hero there.
"He still wanted to compete in the best league in the world, at one of the best teams in the world as well. So it says a lot about him.
"He is very cool, he’s been training very well and he’s not here just to sit on his back. He wants to compete, he wants to keep winning and he’s a good lad."