The Spaniard has spent the last two weeks on the sidelines with a calf complaint.
However, despite reports that he could also miss the majority of February, the 30-year-old has insisted that he is "nearly there".
"Only out 2 weeks and it seems like 2 months for me!!Desperate to be back on the pitch!! Nearly there," he wrote on Twitter.
Arteta has made 25 appearances in all competitions this season, scoring four goals in the process.