Everton's participation in the FA Cup means that Arsenal will not play again until they travel to Bayern Munich on March 13.
Mertesacker thinks that his team must use the time off to reflect on how best to fight back in the final third of the season and secure a top-four finish.
He told the club's official website: "After that it is strange to think about it, but we need this breather now. We have 10 days until the next game and we have to think about our situation.
"Of course there is potential but we have to show that on the pitch. That is what is needed over the next few weeks.
"We must go to Munich and take our chance there, then we have to take care of the league and go for all the points."
Arsene Wenger's side will now be back in Premier League action on Saturday, March 16 against Swansea City.