Cazorla's career has been blighted by a serious Achilles injury which has kept him sidelined for more than a year since picking up what initially appeared to be a minor problem in October 2016.
The Spaniard is hopeful of finally returning to action in January following eight operations to fix the issue, and Iwobi believes that he will be a huge boost to the squad, having selected him above the likes of Alexis Sanchez, Mesut Ozil and Alexandre Lacazette as the best player at the club.
"Unfortunately, he is injured now, but I have to say Santi Cazorla," Iwobi told Soccerladuma when asked who is the club's most skilful player.
"When I first entered the team, I was baffled that he is so good with his left foot and right foot. I think, based on his ability, he is the best football player I have played with.
"Whenever he comes to the changing room, he still always has a smile on his face. Everyone is just buzzing for him to be around. He is really missed."
Cazorla has been limited to just 129 appearances for Arsenal since joining from Malaga in 2012.