The Spaniard has overseen Arsenal's transformation since becoming manager in December 2019, culminating in their first Premier League title in 22 years last season.
Arteta's new agreement was confirmed this week and keeps him at the Emirates until June 2030, extending a tenure that has turned Arsenal back into a major force in English football.
Yet the celebrations of winning the league were followed by disappointment in Europe. Arsenal lost the Champions League final to Paris Saint-Germain shortly after securing the Premier League title.
Arteta says the defeat remains with him.
“I still have the scar, just as Arsène Wenger says. I still have that poison in my veins,” Arteta told The Athletic.
“It has to remain there, because that is when you learn, and it will probably be a huge driving force for me and everyone else.”
The manager believes the responsibility of leading Arsenal goes beyond winning matches and trophies.
Reflecting on the club's success, Arteta said moments when supporters tell the team that it has changed their lives demonstrate the influence football can have.
“We are blessed to have that opportunity,” he said.
“Those moments make you really realise what we are capable of – to create emotions in people. People say things like, ‘You changed our lives.’ What does it really mean to change someone's life?”
Arteta said that influence carries significant responsibility because it can affect people positively or negatively.
“It is something hugely meaningful, because it can be for the better or for the worse. So it means a huge responsibility. We are blessed to have the opportunity to do that.”
The new contract represents Arsenal's commitment to Arteta after he guided the club to their first league title since 2004.
He had previously worked as Pep Guardiola's assistant at Manchester City before returning to Arsenal, where he had spent five years as a player.
The challenge now is to build on the title and turn Arsenal's domestic success into sustained European achievement.
The Champions League defeat remains a source of motivation for Arteta, even as the new contract confirms that Arsenal believe he is the manager to take them forward.