The Spanish midfielder has admitted that losing to title rivals cost the Gunners a chance to finish top.
Arsenal may well have ended a nine-year trophy drought in 2013-14, but the North London side could well have gone one step better than that.
For three quarters of the Premier League season the Gunners looked like serious contenders for the title, but debilitating defeats to top four sides like Liverpool, Manchester City and Chelsea played a role in Arsene Wenger’s men dropping out of contention.
Mikel Arteta has identified the defeats to fellow teams at the top of the table as a key reason why Arsenal were not in the running to be crowned Champions.
“It’s been our fault – I can’t find any other explanation,” he told Arsenal’s website.
“ When you go to Chelsea and they score three amazing goals then ok, but we gave the ball away in our own half.
“They were putting pressure on us and we knew they would do that, but we kept making mistakes and in a big game your opponents won’t miss their chance.
“The games were over after 15 or 20 minutes, and that just can’t happen. It’s nothing to do with preparation – everyone is prepared, and when it happens once we expect that it won’t repeat itself in the next big game.
“But it has still happened. Dropping points like that has been a big blow for everyone psychologically – it’s been really hard to take.
“The goals we’ve conceded haven’t been good enough from our point of view and we’ve paid for them, big time.”
Arsenal are expected to add a number of new players to their squad this summer, with the current crop at the club vocal in their desire to continue winning silverware next term.
Arteta’s contract is running down but is set to continue playing a significant role for the side next term.