So prospective manager Arteta is eager for his compatriot to take up a coaching role with the club, joining the likes of Jens Lehmann and Per Mertesacker as ex-players who have returned to Arsenal behind the scenes.
The Spaniard's name was among the initial candidates following the confirmation that Wenger would be leaving the club after 22 years, and he is now said to be the favourite for the job.
"I have seen the shortlist: Allegri, Carlo Ancelotti, Mikel Arteta - why not?"
"With Vieira - and this is only my opinion - yes". Not just because he's my friend.
"It will be very hard for me [without Arsenal]", Wenger said.
Arteta finished his playing career at Arsenal in 2016 after a five-year spell at the Emirates Stadium where he scored 14 times in 110 appearances and was quickly named as Guardiola's assistant coach on his appointment at the Etihad Stadium.
Arsenal will be looking to appoint a manager capable of leading the Gunners to a Premier League title challenge, with the Gunners having failed to challenge for the title in recent seasons.
Following a stunning sendoff in recent weeks as he stepped away from Arsenal after nearly 22 years in the job, the legendary French manager has revealed he seems himself staying in the game.