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Partey joined the Gunners from Atletico Madrid on transfer deadline day after the English club activated his £45 million release clause.
The 27-year-old will wear the number 18 shirt at Arsenal, and will reportedly be on a £250,000 per week wage.
The Ghanaian had been the target of transfer speculation all through the summer, having been linked with several elite clubs.
READ ALSO: Partey overtakes Essien as most expensive Ghanaian footballer of all-time after Arsenal move
However, it was Arsenal who won the race for his signature after paying the midfielder’s release clause in full.
Partey’s signing has delighted many Arsenal fans and Arteta said he can’t wait to work with the midfielder.
“We have been watching Thomas for a while, so we’re now delighted to add such a high quality player to our squad,” the Arsenal manager told the club’s official website.
“He is a dynamic midfielder with great energy. He brings a lot of experience from a top club that has competed at the highest level in La Liga and the Champions League for several years.
“We’re very impressed with his attitude and his approach to the game. He’s an intelligent footballer and we’re looking forward to him integrating into our system and contributing to the progress we’re building at the moment at the club.”
Meanwhile, Partey has overtaken Michael Essien as the most expensive Ghanaian footballer of all-time following his move to Arsenal.