The Gunners have enjoyed a strong start to the season, winning their opening three games to top the infant Premier League table.
Mikel Arteta's side have been boosted by the signing of Jesus, who has carried his impressive pre-season form into the new campaign, scoring two goals and assisting three times already in the top flight for Arsenal.
Jesus joined Arsenal this summer from champions Manchester City, where he struck 95 goals in 234 appearances.
Arsenal have not played in Europe's premier club competition since the 2016/2017 season but former Barcelona star Ronaldinho expects the addition of Jesus and other summer recruits like Oleksandr Zinchenko, Fabio Silva and the return of William Saliba will take the North London side to another level.
"When Gabriel joined Manchester City I said he would go on to be one of the best players in the world," Ronaldinho told the Mirror.
"When he was given a chance, he showed what he was capable of - but at Manchester City he was never shown the love a player of his quality deserves.
"At Arsenal he has been given the chance to be the focal point, he has been shown the love by the coach and the fans, and already he is repaying that.
"This season I expect big things from him - he will repay the love shown in him by showing he is not just one of the best players in the Premier League, but also in Europe."
"Arsenal will get back into the top four this season with the signings they have made - maybe they can even achieve more and challenge for the title," he added.
"Manchester City look very strong and they will be favourites - but in football anything is possible."
