Sweden international Isak was responsible for the only goal of the contest in the first half at St James' Park, heading home from a terrific Anthony Gordon delivery inside the first 45 minutes.
Isak's winner was his third goal in as many games following strikes against Chelsea in the Premier League and EFL Cup, but the 25-year-old's future has often been called into question.
The former Real Sociedad man is not due to become a free agent until the summer of 2028, but he was heavily linked with a move to either Arsenal or Chelsea in the last transfer window before staying loyal to Newcastle.
Despite their impressive win on Saturday, the Magpies are still on course for another season without any form of European football, and Isak is still thought to be on the radar of Arsenal and Chelsea, as well as La Liga leaders Barcelona.
Arteta would not change Arsenal players "for anyone"
Newcastle boss Eddie Howe recently admitted that Isak's contract situation was a "complex" one as the Magpies reportedly look to tie him down to fresh terms, but Arteta was not having any of the gossip on Saturday.
When asked in his post-game press conference if he would like to see the Scandinavian in North London, the Arsenal boss said: "I love my players and I wouldn't change them for anyone else."
After Isak made the net bulge at St James' Park, a Martin Odegaard-less Arsenal side were continuously found wanting in the final third, as Newcastle kept their visitors at bay with relative ease.
Bukayo Saka was only a fleeting threat as man of the match Lewis Hall kept him in check, while Tino Livramento dominated Gabriel Martinelli in the other wide battle, and Kai Havertz was largely anonymous up front.
Thanks to Liverpool's 2-1 success over Brighton & Hove Albion later in the day, Arsenal are now seven points off top spot in the Premier League table, and Arteta accepted the blame for the Gunners' lack of creativity.
Arteta: 'It is my responsibility to generate Arsenal chances'
"Obviously when you create three big chances in the game you're hoping to score a goal because this is the fine margins we're always discussing, but I think the team should have generated more and that's my responsibility," Arteta added.
"We weren't good enough and didn't have enough answers to get out of that, especially creating the threat that we needed, so at the end, you are reliant on two or three big chances that we had with Mikel, two with Declan and one with Gabi. Not enough threat to change the game in any moment and win it. That's the frustrating part, but credit to them as well for what they did."
Asked if he had witnessed a drop-off in performance levels from his side in recent weeks, having now overseen a three-game winless run in the Premier League, Arteta made no bones about it.
"Yes, especially with a lot of the things we're doing with the ball consistently, but that is something that certainly we have to improve," the Spaniard replied.
Arsenal now have just two full days to recover before a taxing trip to Inter Milan in the Champions League, before an equally daunting away day at Chelsea on November 10 in their last game before the international break.