With the Gunners sitting six points clear at the top of the Premier League table, Rooney insists Arteta could be sacked if they fail to finish the season as champions.
He said on the Wayne Rooney Show: "I think for Arteta as well, if they don't win it this year, then you know, Arsenal have backed him massively here, certainly this year as well, and given him a fantastic squad.
"So if they don't win it this year, then I think there'll be pressure on Arteta, definitely for sure."
Rooney added: "The effect it can have is huge, because I remember when we (Manchester United) were in title races, and if you played the Saturday or you played earlier and you win, and then you see the gap at nine points just by coming back to six. And the way it's happened as well, because obviously Liverpool go a goal up, you think, if this stays at nine points then what a boost that is for us.
"But then City coming back, you waste energy watching it, 100 per cent. So I'm sure Arteta will be just telling his players to focus on their job, what they have to do.
"Because you can get caught up in it and look at other people's results. And I don't think that's a good thing. And they (Arsenal) will be looking at the fixtures coming up, and trying to work out how many points they feel they'll win, or City will win.
"You get caught up in it all and in the end, all that matters really is if you win your games. That's it."