The 39-year-old will therefore head into a period of self-isolation and will miss this weekend’s home game against champions Manchester City.
Arteta is the third Premier League manager to test positive for coronavirus over the festive period after Aston Villa boss Steven Gerrard and Crystal Palace manager Patrick Vieira.
A statement from the club read: "Mikel Arteta will miss our match against Manchester City on New Year's Day after testing positive for Covid-19.
"Mikel is isolating in line with Government guidelines and we wish him well."
Arteta became the first individual connected with the Premier League to contract the coronavirus in March 2020, prompting the shutdown of the English top flight for 100 days.
Arsenal were supposed to play Wolverhampton Wanderers on Tuesday but an outbreak in their opponents’ camp forced the game to be postponed.
The Gunners are on a run of four straight Premier League victories, rising to fourth on the table and 12 points behind leaders Manchester City.
Sixteen Premier League games have now been postponed in the month of December.
The latest round of testing in the top flight revealed a record 103 positive cases among players and staff of Premier League clubs.
