Arteta was asked at Monday's media conference if tonight's game feels like it is "the biggest game of your life?".
He replied: "It does, and you sense it. You sense the energy, the enthusiasm, that it's something unique. Probably one of the biggest games that the Emirates has seen since we built it. And yeah, full of energy, enthusiasm, and can't wait to play the game tomorrow.
"Especially with the circumstances that we had this season, and how we have overcome a lot of issues and challenges, and the fact that the team is here as one of the four best teams in Europe. It tells you about the mindset, the spirit, and how much we really want it.
"So yeah, we are making history. It's a beautiful story right now, but we want much more."
Arteta is counting on an overflow of passion and emotion from the home fans and players tonight.
He revealed, "More. Tomorrow, more. I told them, and I'm not exaggerating, when I said, guys, bring your boots, bring your shorts, bring your T-shirts, and let's play every ball together.
"We want to do something special. That place has to be something special, something that we haven't seen. And I really hope that everybody that comes tomorrow to the Emirates and is watching and following us, it brings that energy with them."
"We must earn the right to reach the final"
Arteta also said, "You feel it, especially because we have, fortunately, a lot of people that have worked in the club for many, many years, and they've never been in this position. So that tells you how unique and beautiful it is. It's the nicest competition for any European club. We've never done it, so we need to earn the right to be in that final, and everything is going to start tomorrow."
Arteta also admits he's been studying how Aston Villa defeated PSG in the second-leg of their quarterfinal. The Gunners manager says there was plenty to pick up from the night at Villa Park.
He said, "Yeah, obviously, you learn a lot from every game. It's different. I think the context and results from both games are very, very different. The same with Liverpool.
"But yeah, what I take as well, a lot of things from the game that we played here. We understand how strong they are as a team, the individuals that they have. But we have the same.
"So when you get to this stage, I think the margins and the difference between the two teams is not big. It's really the mindset, it's the attitude and how we're going to play the game tomorrow."