The pundit does however believe that they will always disappoint with unexpected defeats.
They were hotly tipped to be potential title challengers this season after finishing last season so strongly and certainly seem to be living up to that prediction after recovering from a disappointing opening day defeat to West Ham.
With Chelsea struggling at the wrong end of the table as well, there is a big opportunity for Wenger’s side to win the title this season, and Lawrenson says this season does represent their best chance.
“This is Arsenal's best opportunity to win the league. They have so many attacking options and the league is so open,” he told BBC Sport.
Despite their impressive form of present though, many are still predicting that the Gunners will fall short as they have done in the past.
They have flattered to deceive in recent seasons under Wenger, with them performing highly and impressing everyone but then falling away in the crucial stages.
There have often been times when they lose games they are expected to win, and Lawrenson adds that they will always let you down at some point.
"The thing about Arsenal is that they will always let you down. We are all waiting for the result where they lose at a West Brom or Stoke,” he added.