The Dutchman also spoke highly of Danny Welbeck - a deadline day signing from Manchester United.
The former Netherlands left-back backs his old side to challenge the likes of Chelsea and Manchester City for this season's title.
He told TalkSport: “Arsenal have a good enough squad to win the Premier League title. They are one of the teams who are capable [of winning the league]. It’s a major boost for Arsene, and for all involved, to be in the Champions League.
“The experience of the German players, who became world champions this summer, is also good for the team."
The Arsenal side has three World Cup winners in their squad in the form of Per Mertesacker, Lukas Podolski and Mesut Ozil - and their latest signing Danny Welbeck arrived on transfer deadline day from Manchester United.
A lot of critics of the Arsenal side argued that they didn't have the necessary firepower to win the league title. Alexis Sanchez arrived from Barcelona earlier on in the window.
Prior to the window shutting, Olivier Giroud suffered a broken leg, leading to Arsene Wenger going into the transfer market to bring in another option in Welbeck.
Van Bronckhorst added: “Danny Welbeck wasn’t in Man United’s plans but he’s a very talented striker. He’s very experienced and has played for England a few times. Arsenal’s squad is big and very talented."
Some have said that Welbeck has yet to prove himself but he hasn't had a decent run in the side. Whether he is the player who is capable of leading the line on a regular basis for a side challenging for the title remains to be seen, but there may be an awful lot to rest on Welbeck's shoulders - meaning other areas of the team may have to help him out in front of goal.
They will want to improve on their start to the season. After a late winner against Crystal Palace, they came from two goals down to get a draw against Everton, but failed to take their chances to beat Premier League newboys Leicester City.
A test of their credentials is not far away when they meet Manchester City at the Emirates Stadium just after the international break.