The 23-year-old was linked with a move to Wolves, who made an offer of more than £20 million for his services.
But Arteta had faith in the Englishman, and it appears Maitland-Niles will get chances to show his worth this season.
"There was a lot of speculation going around, but I chose to stay at the club I love," Maitland-Niles told reporters.
"I am happy with my decision and I am sure the manager is happy that I stayed as well.
"It was about the manager having faith in me and him letting me know what's going on and the situation. He did that and everything was fine in the end.
"He just installed a lot of confidence in me that I had in myself, but maybe I didn't know how to bring out. He has helped me do that. We work well as a team together and he knows how to get the best out of me, and now I am learning to get the best out of myself more regularly now. I can only thank him along the way and carry on the run of form we have had."
"There was never a rocky relationship between us," he added.
"It was just he demanded more from me than I was demanding from myself. He told me that and I had to work to do to get back into the team. That's as simple as it was.
"The manager can always see different things than a player can see because he is looking at it from a different angle. He has got different feelings, different emotions to what I feel at the time. It is a good job that I did listen. It is all paying off now."