Ljungberg has announced he's leaving his first team coaching role in search for a manager's post.
Arteta said, "It goes a long way back since he was a player and the legacy he left with his unique personality and his ability, and after it's always great to have people like him at the football club. I think he had the right path at the club by starting first of all at Hale End, then Colney and then all the way to the first team.
"That transition since I joined as well, he knew exactly what happened with Unai and when he was an interim [head coach] it was really helpful in that transition for us to get the right information.
"I think we all have to appreciate the work that he's done for the football club, his commitment, his passion for it, and just wish him all the best in his new chapter."