The Gunners were much improved for the most part and deservedly led through Pierre-Emerick Aubameyang's close-range header at half time.
However, a goalkeeping error from Bernd Leno gifted Jorginho an 83rd-minute equaliser before Tammy Abraham completed the late turnaround four minutes later, leaving Arsenal 12th in the table and with just one win from their last 15 matches across all competitions.
Find out how all of the action unfolded courtesy of Sports Mole's minute-by-minute updates below.
These matches are always mouth-watering affairs, but this time around it is particularly intriguing with both sides in pretty poor form and Mikel Arteta overseeing his first home game in charge of the Gunners. Arsenal have just one win in 14 across all competitions, while Chelsea have lost five of their last seven league games, so something has to give in this one.
Kickoff is just five minutes away, so let's waste no time in having a look at the team news...
SUBS: Pepe, Mavropanos, John-Jules, Smith Rowe, Willock, Mustafi, Martinez
SUBS: Barkley, Batshuayi, Caballero, Christensen, Hudson-Odoi, Lamptey, Jorginho
It comes from a corner as Chambers flicks the initial delivery into a dangerous area, where Aubameyang is much more alert than the defenders to nod home from close range!
The Gunners were comfortably the better team for the majority of that half, with Chelsea hugely disappointing particularly in possession. The Blues did improve towards the end of the half after Frank Lampard opted to make an early change, but anything other than a first-half deficit would have flattered them.
It was lax defending from Emerson, who was the man hooked by Lampard later in the half, but Aubameyang was also really sharp and still had plenty to do with the finish itself.
Mount's effort on that occasion was too close to Leno, though, while Zouma failed to test the Arsenal keeper with another presentable opportunity towards the end of the half.
Arsenal arguably deserve to be more than one goal ahead, although they struggled to make the most of their time on top when it comes to creating clear goalscoring chances.
Leno comes to claim a free kick into the box but gets nowhere near it, leaving Jorginho with the simplest of tap-ins at the back post. It is a shocker from the keeper.
Chelsea break away in devastating fashion, with Abraham giving the ball to Willian, who looks to have taken it too wide. However, he manages to get the ball back inside to Abraham, who works space to shoot really well and slides the ball underneath Leno.
Chelsea, meanwhile, were far short of their best for the most part yet manage to come away with a victory which increases their cushion in fourth place to four points.
Thank you very much for joining Sports Mole for today's London derby between Arsenal and Chelsea as a late Blues comeback denies Mikel Arteta his first win in charge of the Gunners. I will leave you with our match report, and be sure to stick around for reaction too.
From me, though, it is goodbye for now!