The Gunners are now ten points behind leaders Leicester City.
The Gunners headed into 2016 top of the Premier League table and looking like they could mount a serious title challenge.
Instead they have endured a disastrous year to date as they have fallen to third in the table, 10 points behind leaders Leicester City with time running out.
The Gunners' title hopes were all but ended by the 3-3 draw against West Ham United on Saturday, and with them also out of the FA Cup and Champions League, Lawrenson says their season is another glorious failure.
"At 2-0 up against West Ham it looked like Arsene Wenger's decision to leave out Petr Cech and Per Mertesacker was genius,” he told BBC Sport.
“But what we eventually saw was a bit of everything Arsenal have been over the last five seasons; everything good and unfortunately lots of bad things too. It's going to be another season of glorious failure I'm afraid."
The questions are now likely to return about Wenger’s future at the club after another disappointing campaign.
The opinion seems to have turned against him this season, with a large number of fans now believing he should end his long reign at the club.
Unfortunately for them that seems unlikely to happen, and perhaps the best way to win them back would be spending big in the summer transfer window to turn Arsenal into serious challengers once more.