With just one game to go, Spurs can make a bit of history by finishing above the Gunners for the first time in 21 years if they avoid defeat away to the Magpies, whose relegation into the Championship was confirmed during the week.
Defeat would almost certainly be costly, with Arsenal hosting out-of-form Aston Villa - who have lost 11 of their last 12 league games - at the Emirates Stadium in what surely represents a comfortable three points for Arsene Wenger's side on Sunday.
Wenger and co go into their end-of-season clash on the back of a hard-fought 2-2 draw at Manchester City, whereas Spurs, still hurting from missing out on the Premier League title, suffered a surprise 2-1 home defeat by Southampton last time out.
Nevertheless, Arsenal legend Parlour feels that his former side have given themselves too much to do in order to maintain their stunning record of trumping their North London rivals every season, noting that Spurs will get at least a point at St James's Park.
"I think it's going to be a point for Spurs," he told Betsafe. "I'm going for a 1-1 draw and that'll be enough for Spurs to get second.
"Arsenal just have to do their job. I'm expecting Arsenal to bounce back. They got a good point away at Manchester City and I can see them winning 2 or 3-0."