The match on Saturday at the Stadium of Light will mark a reunion for Arsenal and Sunderland captain Granit Xhaka. The former Gunners midfielder has been outstanding for the Black Cats after returning to England following two seasons away with Bayer Leverkusen in Germany.
Arteta said: "I loved every minute that we spent together. When he joined he was in a special moment in his life and his career.
"He made me a better coach, he helped us to develop as a football team and as a club and I will be eternally grateful."
Asked where the Swiss ranks among the best signings made this season, Arteta was effusive.
He added: "Well with the impact that he's having, one of the best I would say. I think the impact that he's had is brilliant. Really impressed."
Asked if Xhaka enjoyed the appreciation of Arsenal fans he felt he deserved, Arteta was circumspect.
"I don't know certainly, internally he had a lot of love. One of those guys that can change a dressing room."
On what they lost with Xhaka's departure, Arteta refused to downplay the void left.
"Yeah, it wasn't an easy decision because I knew the impact he could have at the team. It really made me think again if it was the right decision to try and make him stay."
Attacking absences
Kai Havertz, Martin Odegaard, Viktor Gyokeres, Gabi Martinelli and Noni Madueke are all likely to miss the game on Sunday.
Asked to confirm their absences, Arteta replied: "I cannot confirm all of that, but you are not far."
However, for next week's North London derby against Tottenham, the manager was more bullish.
He added: "I think it will be really close for them to be in a strong position."
Meanwhile, Arteta also delivered another update on the recovery of Brazil striker Gabriel Jesus. The attacker returned to training this week after ten months out due to a serious knee injury.
Arteta continued: "I dont know. Now is about making the steps day by day, in a different surrounding. Now he has competitive players around him, see how he copes with that.
"I love the reaction of his teammates."
Asked about Gabriel Jesus' future, the manager insists he was a required player.
He explained: "Yes, because we haven't had them and now we don't have Viktor and we haven't had Kai again for three months or many forwards.
"Unfortunately that's becoming something that consistently is happening. So we need those options, and what an option to have with Gab."
Defensive pride
Arsenal, after their Champions League win at Slavia Prague, have now equalled a club record eight consecutive clean sheets.
Asked about the record, which was set in 1903, Arteta said: “That’s a long time ago, so it tells you about the difficulty of achieving it. There’s a lot of work there to achieve that.
“The most pleasing thing is probably not the record, it’s the mindset of the players. They are talking about how we can still do better. There were one or two situations that we could have resolved better (against Slavia).
“If we do that, we can keep improving and that record will have a bigger meaning.”
Rice and Lewis-Skelly
Arteta admits he is delighted with the form of Declan Rice in midfield. The England international has firmly filled the void left by Xhaka.
"Well, he's been super consistent and playing at a high level," stated the manager. "We see him impact the game in various ways and this is exactly what we want. His role in the team is growing in a really natural way."
Arteta also addressed Myles Lewis-Skelly's England omission, with the young full-back struggling for minutes this season.
"We are here to support and to help each other and give a good perspective of the situation.
"So don't look at the one moment of what is happening for you because maybe today it is happening for the right reason."
Laying down a marker
While the leaders go to Sunderland tomorrow, title rivals Manchester City and Liverpool meet on Sunday. Asked if there is an opportunity to put further distance between themselves and their nearest competitors, Arteta admitted this coming round could be "important".
"Well every weekend is crucial, there are other times for possible results," he said. "Maybe they are a little more important. But you have to be consistent regardless if you want to achieve your goals."
Asked if he will watch the clash, Arteta said: "I'm just focused on tomorrow's game. How critical, how crucial it is for us."
The Gunners sit six points ahead of City and Liverpool and before ending today's media preview, Arteta was asked if he believes his team deserve greater coverage and credit for what they've achieved so far this term.
He declared: "It's not about credit, it's about doing it. And today train at our best."