The Gunners, who have not lifted the trophy since 2004, are currently five points clear at the top of the table.
Some pundits have backed Arsene Wenger's side to be caught during the second half of the campaign, but Eduardo believes that they have enough quality to sustain their challenge right through until May.
"I'm sure that if Arsenal show the same mentality as last season from Christmas time to the end of the season, they will be champions of the Premier League," he told BBC Sport.
"They never changed their style of football and they have the same people inside the club. They have just been waiting for a little bit of luck to become champions.
"This year everything is open for them to finish first. In England and the Premier League, if you lose one game everything can change. But I'm sure they can do it."
Eduardo, 30, could feature for Shakhtar Donetsk against Manchester United this evening.