The Gunners are just one game away from winning their first title in 22 years after Kai Havertz's first-half header secured a 1-0 victory against Burnley at the Emirates Stadium on Monday (Tuesday AEST).
However, Arsenal will be crowned champions on Tuesday night – and avoid the anxiety of a final-day shootout – if Bournemouth stop Manchester City from winning at the Vitality Stadium.
The Cherries have not lost a home game in the eight fixtures since their 3-2 defeat to Arsenal on January 3.
And when asked if he is now a Bournemouth fan for the next 24 hours, Arteta said: "The biggest ever.
"(Bournemouth manager) Andoni (Iraola), and all the players and all the supporters of Bournemouth, I think we are all fans because we know what it means if they get a result."
Pressed as to whether he would watch the match with his players, Arteta replied: "I haven't planned to do that.
"I am planning to watch it with my family. I don't know for how long. I will be there in front of the TV, but I don't know how much I am going to be able to watch it, and that is the reality."
Havertz's header from Bukayo Saka's corner in the 36th minute proved enough for Arsenal, who face Crystal Palace at Selhurst Park on Sunday, to beat an already-relegated Burnley side.
Arteta's players could complete a historic double this month with a Champions League final against Paris Saint-Germain to follow in Budapest on May 30.
The Gunners, runners-up in the league for the past three seasons, are now in pole position to earn Arteta the second trophy of his near seven-year tenure and the club a first championship since Arsene Wenger oversaw the unbeaten 'Invincibles' to glory in 2004.
Prior to leading his side on a lap of honour to mark the club's final home game, captain Martin Odegaard said: "I am really proud. It has been an amazing season so far.
"I can promise you all that we will give everything we have and keep going until the very end."
Burnley rarely looked like spoiling Arsenal's party, but the hosts could count themselves fortunate to end the game with 11 men following Havertz's high tackle on Lesley Ugochukwu.
"It is a red card. It is dangerous, he is leaving the floor, and it is cynical foul to break up play," interim Burnley boss Mike Jackson said.
"We are disappointed it wasn't given because it changes the game for the last 20 minutes in our favour."
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