Arsenal are top of the Premier League standings with a five-point advantage but Manchester City have two games in hand over the Gunners.
While Arsenal have drawn their last three games, Man City have been flawless in the previous six encounters to close the gap at the top to five points.
City have emerged victorious in their two games against Arsenal this season and will start as favourites once again at the Etihad Stadium.
"If we win tomorrow we have not won the league. It will shift probably the percentage, but five games in this league is very tricky still," Arteta said.
"We knew we had to go to Etihad, it will be difficult, but will it decide the season? No," Arteta added.
"The belief is there, I look at how the players reacted after Southampton, they defend each other in every moment. We really want it and we are again going to show it tomorrow night."
“It is really important, but not decisive because there are still many tough games for both sides,” Guardiola said at a press conference.
“We have more tough games to play but we cannot deny how important it is.”
