The Gunners have lost eight of their opening 14 games in the Premier League to leave them closer to the relegation zone than the top four following a disastrous start to the new campaign.
Arsenal were knocked out of the League Cup on Tuesday night when they were beaten 4-1 by Guardiola’s Manchester City side at The Emirates.
Arteta’s future is likely to become a source of speculation in the coming weeks if he is unable to reverse Arsenal’s ailing fortunes.
However, Guardiola has urged the Arsenal hierarchy to give the Spaniard time to turn things around at the north London club.
When asked about Arteta’s future, Guardiola told BBC Radio 5 Live: “They will do a huge, big mistake [if they sack Arteta]
“I’m pretty sure they are going to trust him. I understand for the analysts, analyse the results.
“But I was with him many years and I know his incredible quality as a human being and especially as a manager, how he is involved in everything. It’s just a question of time and he will do well.
“I’m not on the board. For me they will do a big mistake if they are thinking.
“They give him the confidence, they won two titles when for a long time ago it didn’t happen at this club.
“In this pandemic situation, with injury problems they have and the games they played always they played good.
“But unfortunately these games is our job and it depends on the results. But football changes in one week so quick.
“I can speak about my experience alongside him, one of the most incredible successful teams in English history we had and he was part of this success and it would not be possible without him, and to create something like this you need time like I had in my first season.”
Arsenal will aim to get back to winning ways in the Premier League when they welcome Chelsea FC to The Emirates on Boxing Day.
The Gunners, who have not won the league since 2004, will then travel to take on Brighton and Hove Albion on Tuesday 29 December next week.
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