The Ukrainian has not featured since starting the 3-1 win over Tottenham on October 1 after picking up a calf injury, while a knee issue kept him out for two games earlier in the season.
The 25-year-old is closing in on a return to action after suffering a setback on his road to recovery and Arteta stopped short of putting a timeframe on when he will be back.
“I think he’s quite close, he’s getting better and better, he’s progressing really well,” he added. “He had a setback on the injury that he had at the start of the season, which is a shame. But knowing Alex, he will be back very soon.”
When asked if he would return to the squad, Arteta stayed tight-lipped: “I can’t tell you. [Is he] in contention? He’s always in contention!”