The Frenchman has endured a difficult season this term and he has scored only 10 times during the current campaign.
Lacazette, however, is still attracting interest from abroad, namely Atletico Madrid, and Arteta is keen to hold talks with him about his future.
The striker has two years to run on his current contract and Arsenal's preferred policy is to resolve players' futures before they enter the final 12 months on their deals.
“We have to have a chat about the next step with him and get his idea, his feeling," said Arteta. “As I said, I am really happy with him. He is a player that I always liked, even when I wasn't here, because of what he brings to the team - his qualities, his abilities, his work-rate.
“So, let's see. But now we are in a crucial moment, there is no time to talk about a lot of contractual situations. We still have time and we will do it in the right moment."