Former defender Martin Keown has warned against counting 's squad out of their quarter-final tie against Real Madrid.
The Gunners are tasked with taking on the 15-time winners over the next two weeks with a spot in the semi-finals on the line. However, the La Liga giants are the firm favourites to progress given their pedigree in the competition, as well as the mounting injury problems at Arsenal.
Centre-back Gabriel was their latest casualty as he was forced off during the win against Fulham midweek. He has now been ruled out for the remainder of the season with a hamstring injury, joining and on the side-lines.
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While Arteta has been boosted by the recent return of star player , Real Madrid remain firm favourites ahead of next week's clash. However, Keown refused to downplay his former club's chances, insisting that all is not rosy at Real Madrid, either.
"I get it, Real Madrid turn up at the business end of the season," the pundit told TNT sports ahead of Arsenal's Premier League draw with Everton on Saturday lunchtime. "It's quite magnificent, and they're 15-time winners.
"But don't discount Arsenal. I watched Real Madrid against Real Sociedad, shipping four goals.
"They can concede. It's not all happy in the Real Madrid garden. Arsenal can exploit that.
"Let's see what happens. That first game at home is really, really decisive. Arsenal have got to go for it."
The first leg will take place at the Emirates Stadium on Tuesday night. That will then be followed by the second leg at the Santiago Bernabeu the following Wednesday night.
Real Madrid or Arsenal will then take on the winner of Paris Saint-Germain vs Aston Villa in the semi-finals. The final of this year's competition will take place on Saturday, May 31 at the Allianz Arena in Munich.
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