The Spaniard has signed on loan for the Gunners from Brentford to provide competition for Aaron Ramsdale in goal.
Arsenal also have the option to buy Raya at the end of the season should he do enough to impress at the Emirates Stadium.
His signing was announced on Tuesday and the media team were on hand to show behind-the-scenes footage of his arrival.
Before Raya was snapped signing his contract, Arteta presented his 91-year-old grandad with a special gift.
Handing him a box, he said: "The grandfather, how are you? Here's a gift for the grandfather."
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Grandad Raya was given a personalised Arsenal shirt with his name 'Joaquin' on the back, and he was certainly appreciative as he said: "This is my biggest dream."
He then asked to have a photo with Arteta whilst holding his new shirt, with Gunners sporting director Edu also joining in as they stood in front of the club badge as grandad Raya appeared close to tears.
Raya then took a seat and was pictured putting pen to paper on his contract, with his girlfriend Tatiana Trouboul stood alongside him.
Arteta then offered to take a picture of them on her phone, much to the delight of Tatiana.
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"This is the photo! Mikel taking a photo," Edu said jokingly, causing the whole room to burst into laughter.
The Raya camp are certainly all smiles now that the 27-year-old, who had also been linked with rivals Tottenham, has joined Arsenal.
He is likely to be part of a Gunners squad who will push for the Premier League title once again this season.
Raya will also get the opportunity to play European football for the first time in his career as Arsenal prepare for their long-awaited return to the Champions League.