The Hale End graduate was the beneficiary of some expected rotation from the North London giants, who made a total of five changes from the side that drew 0-0 with Manchester City on Sunday.
Smith Rowe had only made the starting XI on two previous occasions in the 2023-24 Premier League season, but he justified his inclusion on Wednesday by being involved in both of the Gunners' first-half goals.
The 23-year-old firstly stole possession from Pelly Ruddock Mpanzu in the Luton half before setting away Kai Havertz, who in turn delivered for Martin Odegaard to draw first blood with a slick strike into the bottom corner.
Towards the end of the opening period, Smith Rowe registered just his second direct goal contribution of the season, getting to the byline and attempting to pick out Reiss Nelson, but Daiki Hashioka instead diverted the ball into his own net.
Arteta "so happy" with returning Gunners despite lack of "rhythm"
The England international collected the Man of the Match award for his efforts in North London as Arsenal returned to the top of the table, and speaking to TNT Sports after the game, Arteta waxed lyrical about Smith Rowe's performance on the field and his application in training.
"I was really impressed with him. He has been training really well and we felt the game could suit us," the Spaniard said. "Really pleased for the boys who came in. It is a busy month, we have started well again after an international break and next is Brighton."
As well as Smith Rowe, Thomas Partey, Leandro Trossard, Oleksandr Zinchenko and Nelson - deputising for the absent Bukayo Saka - were drafted into a much-changed Arsenal team, and Arteta spoke highly of the contributions of all of his returnees.
"Very happy. It was a really difficult game and credit to Luton, they are a very good side and make it difficult for us," Arteta added. "We scored two really good goals in the first half, in the second half because of the way they play we didn't get the right rhythm.
"I am so happy with the boys who came in, they made a difference. Now we have a bigger squad with nearly everyone fit and available."
Arsenal break Premier League goalscoring record in comfortable win
After netting twice in an otherwise uneventful opening period, Arsenal struggled to assert their dominance as much in the second 45, where Luton launched a few promising attacks but to no avail.
Nevertheless, by the time the Gunners trudged down the tunnel for half time, they had already set a new Premier League record when it came to goals scored against newly-promoted teams in a single season.
Arsenal have now struck 25 times against promoted outfits in the 2023-24 season, a new all-time high for a single Premier League campaign, bettering their own previous record in the process.
The Arsene Wenger-led team of 2012-13 held the record for 11 years, having netted 24 goals against teams promoted from the Championship the previous season, and Arsenal's reward is at least 24 hours at the summit of the rankings.
Now one point clear of Liverpool, who host basement side Sheffield United on Thursday night, the Gunners hit the road again on Saturday to meet Brighton & Hove Albion at The Amex.