Arsenal chief Ivan Gazidis says failing to finish inside the top four would be failure.
He told the Mirror: "Finishing outside the top four will be a disappointment for this club.
"The club wants to be one of the best in the world and it's impossible to achieve that goal if you're not in the Champions League. We are all disappointed that we're currently in fifth - we'll continue to fight until the last kick of the season.
"The difference between real success and failure for us this year is going to be very, very small."