The former Lyon man is in the final year of his Gunners contract and was heavily linked with a move away in the summer, but he remained on the books at the Emirates.
Lacazette has only played 31 minutes in the Premier League this season after contracting coronavirus, but Arteta is confident that the 30-year-old will soon be back to his best.
Speaking to the press ahead of Saturday's showdown with Burnley, Arteta said: "He's fully involved. He will be back to the form that he can achieve. I'm sure that he will be instrumental in our success."
Lacazette ended the 2020-21 season as Arsenal's top goalscorer with 17 strikes from 43 games in all competitions, and he boasts 66 goals and 28 assists from 172 games for the club in total.