The 25-year-old picked up the injury whilst on international duty with Norway which has left a gaping hole in the Gunners midfield since the start of September.
Speaking in today's press conference, Arteta gave a crucial update on the playmaker who could return earlier than expected.
When asked if the midfielder would return before next month’s international fixtures, Arteta said: “Yes, hopefully, yes.”
“He’s not going to be fit for this game (at Bournemouth on Saturday).
“Next week will be a different story. In that later stage of rehab, where he is at the moment because he’s doing a lot of stuff already, he needs to clear some markers.
“There are certain things he needs to be comfortable with doing, especially with the ball. Next week will be crucial to understanding how close he is.”
This means he will be back in the side before November 10th and could be available for Arsenal’s clash against Chelsea - a potential six pointer in the race for the title.