Bellerin was a youngster when Arteta was playing with the Gunners.
Now 25, the Spaniard wants to emulate his manager by helping the next generation.
"I think it's really important to support young players to be who they are, it can be hard coming into a dressing room when you have senior players questioning why you are doing something or wearing something, but it's so important that the next generation are true to themselves," he told Football London.
"If I can help them do that then I am very happy to do so.
"I was lucky that I had my family around me, my best friend, he's someone I had known since the start, he was actually the one that told me to start looking at investments and stuff.
"Even then he was showing the leadership qualities back then that makes him a manager.
"But I feel so, so lucky that everyone around me knew when to stop me doing certain things and were able to have hard conversations with me.
"If you don't have people that can be honest with you, then you won't ever grow as a person. I was very lucky with the people I had around me and it means the world to me to have young players looking up to me in the same way."