Meanwhile, Crystal Palace will be looking to bounce back from a tame 1-0 loss at the expense of Wolverhampton Wanderers on Friday evening - as Roy Hodgson's side went out of the FA Cup in the third round.
The Gunners have looked a rejuvenated team in recent games and are in a run of form no Arsenal fan would have predicted just a few weeks ago. Their last league game, a 4-0 thrashing of West Bromwich Albion, pushed Mikel Arteta's men up to 11th in the table.
The Eagles also won last time out in the league, as they breezed past a helpless Sheffield United side to pick up a 2-0 win, and their sixth victory of the season in the process.
Thomas Partey is set to make his return to the Arsenal squad following a lengthy spell on the sidelines. The Ghanaian returned to full training last week.
Centre half, Gabriel Magalhães, may also return for the hosts after completing a period of self-isolation due to testing positive for COVID-19.
Arsenal are likely to be without Gabriel Martinelli, who is suffering from an ankle injury picked up in the warm-up against Newcastle.
Palace will be without Jeffrey Schlupp after it was announced he may be out for up to three months with a hamstring injury, sustained in the Eagles win against Sheffield United.
Arsenal (4-2-3-1): Leno; Bellerin, Holding, Pablo Mari, Tierney; Dani Ceballos, Xhaka; Saka, Smith-Rowe, Aubameyang; Lacazette
Crystal Palace (4-4-2): Guaita; Ward, Tomkins, Kouyate, Mitchell; Townsend, McArthur, Milivojevic, Eze; Benteke, Zaha
Ones to watch
Arsenal: Alexandre Lacazette
Alexandre Lacazette is starting to come good for Arsenal and, with 5 goals in his previous five games, he has been Arsenal's star man in recent weeks. He's been supplying a much needed goal threat with Pierre- Emerick Aubameyang not firing on all cylinders.
Lacazette will fancy himself to get on the scoresheet on Thursday, against a Palace side that have failed to keep a clean sheet away from home all season.
Crystal Palace: Wilfried Zaha
After a blistering start to the season, Wilfried Zaha has been quieter as the campaign has progressed, however, the Ivorian continues to be the Eagles main man.
The most recent meeting between the two sides was in January 2020. Pierre-Emerick Aubameyang scored and got sent off in the game as Palace held Arsenal to a 1-1 draw at Selhurst Park.
Where to watch
The game kicks off at 8:00 GMT time on Thursday evening and will be broadcast live in the UK via Sky Sports.
There will also be a live blog on VAVEL that you can opt to follow along for minute to minute updates on the game.