Captain and star striker Robin van Persie and defensive midfielder Alex Song departed the Emirates Stadium for Manchester United and Barcelona respectively but Mancini feels the likes of Lukas Podolski, Santi Cazorla and Olivier Giroud coming in have Arsene Wenger's men in a better place.
"Arsenal can compete for the title this season," Mancini told reporters ahead of Sunday's clash between the clubs.
"They are better than last season, even if they lost some good players. Maybe, because of that, there is less pressure on them this season.
"They lost van Persie and Song, but the players they have brought in have experience and quality."