Arteta has featured in every available Premier League fixture since his move from Everton in the summer and manager Wenger believes he is a crucial cog in the Gunners machine.
"He is an important player for our team," he said. "He is really a player between Song and Ramsey or Rosicky and that gives us continuity.
"When we need to keep the ball he can achieve that - Jack [Wilshere] can do that as well. But with Jack missing he is a player who can keep the ball when it is needed.
"He is adapting to our game. If you look at the stats in the Premier League, Arsenal are the team who play the least balls backwards.
"That means when you have the ball it is not only a question of decision-making, it's a question of opportunity. It's about how many players you have in front of you - if you have players behind you have to play it backwards."