The Gunners were sent crashing out of the competition after a 5-3 penalty shootout defeat to Portuguese side Sporting.
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Gabriel Martinelli missed the crucial penalty after the game ended 1-1 on the night and 3-3 on aggregate.
Granit Xhaka opened the scoring for Mikel Arteta's side but they were pegged back thanks to a stunning long-range effort from Pedro Goncalves.
With Sporting leading 4-3 in the shootout, Martinelli saw his penalty saved, leaving Nuno Santos to seal Arsenal's fate
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The disappointment felt around the Emirates Stadium was not shared by a section of the talkSPORT studio with former Spurs player O'Hara savouring every moment of the Gunners' exit.
He was on air alongside Jason Cundy and as he listened to talkSPORT's live commentary of the shootout, O'Hara could hardly contain himself.
Leaving everyone in hysterics, O'Hara did his best to remain quiet as he gritted his teeth and clenched his fists in jubilation.
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His glee didn't stop there. He then put his arm in the air and waved 'goodbye' to signal the Gunners' exit from the Europa League.
O' Hara's reaction would have been replicated among much of the Spurs fan base, who still hold hopes that the wheels will fall off Arsenal's title charge.
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With 11 games to play, Arteta's side hold a five-point advantage over Manchester City in their quest to end a 19-year Premier League title drought.
A return to the Champions League next season is all-but wrapped up for the Gunners but the same cannot be said for O'Hara's beloved Spurs, who face a fight on their hands to claim a top four place.