Midfielder Arteta is in contention to be in the squad for the FA Cup final against Aston Villa on Saturday having been sidelined since November with an ankle injury.
The Gunners, who finished third in the Premier League behind Chelsea and Manchester City this season, can win the Cup for the second time in a row this weekend and Arteta believes the club is well positioned to win more silverware in the coming years.
“The ambitions I think are going to be different for next season,” the 33-year-old said. “The base, the squad, the quality we have is better than we had last year.
“I think the club is in a strong position as well to push, because financially it’s in a very good position.
“I think it’s the right moment. We have all the elements to move forward, to be challenging.
“I think we need to be demanding, because I think we have the ability and what it takes to go ahead and set bigger targets.
“We know the challenge is there and I think we have all the elements to go and progress again.”
Last season’s FA Cup final defeat of Hull ended a nine-year wait for silverware for the Gunners, and Arteta wants further success.
He said: “Such a long time at this club without winning trophies was was a big lorry (load) to carry behind your back.
“We have to create some momentum now and to do that there’s no better way than to win trophies and set some high standards.
“That’s what we’re looking for. We have progressed from last year and we’re going to keep going.
“I can’t see anything stopping that happening. It’s only down to us.”
Whether Arteta is part of the future at Arsenal remains to be seen.
He stated his wish to stay at the Emirates Stadium, but was coy on his future, with his contract expiring this summer.
“I would love to (stay), yes,” he said. “We’re both very clear what we want and we will announce something after the final.
“It’s been a strange season for me since November. With my injury I’ve had some really tough times, but I have learned a lot.
“It’s been nice as well to see things out of the barrier and having a different input from outside, instead of having it on the field.
“But my aim is to be on the pitch as much as I can and that’s what I’m working for. Everybody wants to be involved in a final and what that means.
“I’ve been training with the team. It’s up to the manager to decide what he wants to do. I will respect any decision.”