The Gunners used to be renowned as a powerful team, with Patrick Vieira used an example the sort of players who Arsene Wenger formerly had in his side.
However, Arsenal allowed Tottenham Hotspur to complete a deal for Wanyama from Southampton unopposed this summer.
Spurs managed to sign Wanyama for a fee of around £11 million, and Warnock feels that it is a deal which will work out well for everyone involved.
“Pochettino knows him inside out,” Warnock said. “This was the last opportunity for Southampton to get good money. I think it’s good for the player and the club.
“Arsenal used to look for that [power] when they had Vieira, but they have gone the other way now. But what an exciting foil he will be with Dele Alli.”
Wanyama is expected to bolster Tottenham’s midfield ranks for next season, as Mauricio Pochettino’s side aim to compete in both the Premier League and the Champions League.
Wanyama will provide competition for both Eric Dier and Mousa Dembele, for a place in the heart of Spurs’ midfield.
Wanyama’s departure is a blow to Southampton, especially considering they have already seen Ronald Koeman leave to join Everton this summer.
Wanyama made 35 appearances for the Saints last season, and he scored on one occasion.