The Gunners suffered real disappointment last term which saw them miss out on a spot in the top four, meaning manager Mikel Arteta's side are without Champions League football once again.
Rivals Tottenham beat them to fourth and, as a result, there was no choice but to go big in the transfer market.
Losing strikers Pierre-Emerick Aubameyang and Alexandre Lacazette already in 2022, it was essential Arsenal strengthened in order to enjoy a better campaign this time around.
Brazilian starlet Marquinhos joined from Sao Paulo, while goalkeeper Matt Turner arrived from New England Revolution, before the club completed a deal for creative midfielder Fabio Vieira from Porto.
After that, they completed a huge statement signing in the shape of Gabriel Jesus, who joined from Manchester City.
However, Arsenal's work isn't yet done.
Manchester City's Oleksandr Zinchenko is being linked with a £30million deal, adding crucial quality and versatility to Arteta's side.
Spurs have equally been busy, with Antonio Conte building a new squad to compete with the European elite, so how could the Gunners shape up next term with their new signings on board?
Aaron Ramsdale's performances last term have earned him a strong chance to retain the gloves going into the new campaign.
Takehiro Tomiyasu seems like the best option at right back, while William Saliba's return to north London could give Ben White a challenge to slot back into the heart of the defence alongside Gabriel Magalhaes.
Kieran Tierney is undoubtedly a top player at left-back, but given his injuries it seems that the arrival of Zinchenko could see the Scotland international ousted from the first choice XI, at least in the short-term.
Zinchenko could also play in central midfield, where Arsenal could have some real options.
Youri Tielemans continues to be linked with a move to north London as the summer progresses.
Alongside new signing Vieira and Martin Odegaard, the trio could offer real quality for Arteta's side in the middle of the park.
In the final third, the Gunners will be hoping for more of the same from Bukayo Saka and Gabriel Martinelli, with the likes of Emile Smith Rowe also likely to have a big opportunity to show their quality.
The same can be said in attack, where Jesus is set to be the club's top striker going into the new season, however, with Eddie Nketiah fresh from signing a new deal, the hope will be that both players can contribute to the club's goal tally.
Here's how Arteta's side could shape up going into the new campaign.