The two North London clubs are preparing to renew their rivalry in the Premier League on Sunday.
Despite signing players that cost a total of £150 million in the summer, Sherwood still believes Arsenal have a far weaker starting lineup and squad than Spurs.
Sherwood singled out Kieran Tierney and Bukayo Saka for praise.
"Out of a combined XI Tierney certainly gets in, [Pierre-Emerick] Aubameyang I'm not sure because he's not been great, I still think Son [Heung-min] and [Harry] Kane are the two strikers up there. You'd have to have Saka in there but really it's a poor bunch to be honest," Sherwood told Ladbrokes.
"No one is standing out for me as the rest are still developing at Arsenal.
"[Martin] Odegaard will be a good player; he scored a fantastic free kick at the weekend but it's not easy to pick a combined XI."
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