Seaman has warned that the club will fail to land trophies if they continue to allow their prize assets to leave - and cites the departure of skipper Robin van Persie to Manchester United as a prime example.
He told the Daily Star Sunday: "Letting RVP got to Man United would never have happened in my time.
"Arsenal need to keep their best players and it is not happening, which for me has a big influence on why they don't win trophies.
"During my time we used to be able to keep our best players and that is why we won trophies and at the moment we can't do that. Players can earn more money elsewhere and it is hard to attract the best players, too.
"Losing your captains all the time - Cesc Fabregas and RVP - rips the heart out of your team."