Ødegaard is insisting that when the dust settles on a shootout loss to Paris Saint-Germain in Budapest, there is enormous pride to be taken from what this group of players achieved in 2025-26.
Arsenal led through Kai Havertz's sixth-minute strike before Ousmane Dembélé's second-half penalty levelled for the holders. Neither side could break the deadlock in extra time, and Eberechi Eze and Gabriel Magalhães both missed in the shootout as PSG won 4-3 to retain the title.
It was the second time in the club's history they have been runners-up in the European Cup, having lost to Barcelona in Paris in 2006.
Ødegaard, who has now captained Arsenal to quarter-final, semi-final and runners-up finishes in the last three Champions League campaigns, was raw but clear-eyed in his assessment.
"It's painful at the moment, but when you look at the bigger picture, we've had an incredible season," he said. "We won the league for the first time in 22 years, and of course, being this close today as well. We need to take our time in order to get over this loss. The season's been amazing in a lot of different ways, we just couldn't quite do the double, but we have to be proud of our performance."
He added: "We've done some incredible things and we had a great run in the Champions League as well. We just have to use the feeling that we have now and also the positive feelings we have from this season to reflect on all of it, and make sure we come back even stronger in the next season. There are lots of good things to take and some things for sure in Europe as well."
The squad returns to north London on Sunday for a Premier League title parade through the streets of Islington, with hundreds of thousands of supporters expected to line the route. The Champions League trophy will be absent, but the Premier League trophy will travel the route on the open-top bus.
Ødegaard was clear that the celebration should proceed with full heart. "We have to celebrate the title with our supporters — they deserve that. I think we deserve that. We've done something incredible together and of course it would have been even better with the double. But still, it's an incredible achievement and we're looking forward to seeing all our supporters tomorrow."
The Premier League title remains one of the finest achievements in the club's modern era. The final was one step too far this time.