Nwaneri has established himself as a key player for the north London outfit in the absence of injured star Bukayo Saka.
In what has been a stunning breakthrough season, the talented teenager has been directly involved in eight goals [seven strikes, one assist].
And he will be hoping for another dazzling display as he looks to help Mikel Arteta's men put one foot in the quarter-finals.
His start against PSV is an historic outing for the attacking midfielder, who has become the youngest Englishman to start a Champions League knockout tie for Arsenal aged just 17 years and 348 days.
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And he has followed Phil Foden and Jude Bellingham in starting in a knockout tie in the competition before his 18th birthday.
Foden was the first Englishman to do so in March 2018 when he was named in Pep Guardiola's line-up for Manchester City's 2-1 defeat to Swiss club Basel in the last-16 second leg.
Bellingham was then the next Three Lions star to get himself in the record books - doing so for Borussia Dortmund in their last-16 first leg victory over Sevilla in February 2021.
With one Champions League goal to his name already, Nwaneri has already scored more than Foden did in his compatriot's first season playing in Europe's premier tournament.
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While he has matched Bellingham's tally from the 2020/21 campaign, though the Real Madrid midfielder did boast more goal involvements overall having also chipped in with an assist.
In another incredible stat, Nwaneri is just Arsenal's second youngest player to appear in a Champions League knockout match.
That honour belongs to former skipper Cesc Fabregas, who was 39 days younger than Nwaneri when he created history.
The Spaniard's record-breaking outing came against Bayern Munich in March 2005.
In terms of youngest players to ever feature in the Champions League for Arsenal, Nwaneri is fifth on the list.
Jack Wilshere is the only person to make their Champions League debut at the age of 16 - doing so against Dynamo Kyiv in November 2008.
Ainsley Maitland-Niles then follows, with the versatile midfielder - now at Lyon - featuring off the bench against Galatasaray in 2014.
Bayern winger Serge Gnabry - another Hale End graduate - was also 17 when he played against Schalke in October 2012, with Fabregas fourth following his outing against Panathinaikos in October 2004.
The winner of the PSV vs Arsenal tie will face the winner of the Real Madrid vs Atletico Madrid last 16 tie.
Mikel Arteta reveals why Ethan Nwaneri is forced to use different dressing room from his Arsenal teammates