The Gunners have won the FA Cup in 2014 and 2015 but have struggled to mount a serious assault on the Premier League title in recent years.
Their run sees them sitting joint top of the table alongside Liverpool and Manchester City with all three having picked up 20 points from nine games so far.
Arsenal manager Arsene Wenger has jokingly apologised to the fans for giving them 20 years of suffering.
"I am sorry for the boy who was born 20 years ago and has only known one manager".
The 2016 edition took place at the Emirates Stadium on Monday morning (24 October), where majority shareholder Stan Kroenke, who was narrowly re-elected to the Gunners board, paid tribute to Arsene Wenger shortly after his 20th anniversary in charge and presented English football's longest-serving manager with a portrait to mark two decades of service.
Wenger believes that the title will be won with a points tally of between 82 and 86, and is confident that his side will be in the mix during the closing months of the season. This year, though, City, Arsenal and Liverpool have started strongly, with Chelsea and Spurs just behind.
"Today we are in a much more competitive position to fight for the championship than five or six years ago", he said.
"Every single detail can get you points".
"I know a number of (sports team) owners who are very successful who say the same thing: the hardest thing to do is be consistently competitive at the top of the league".
He said: "We all recognise the fantastic contribution Arsene has made to the club in last 20 years".
"Our challenge is to compete for everything because I believe we have a squad that is more mature and better equipped to cope with all the challenges we have".
Arsenal host Reading in the EFL Cup tonight, and while Wenger will make changes, he will be without Chuba Akpom. "I can't get into a discussion on individual players but can assure you we will apply the same focus, rigour and diligence to members of our current squad and I think you can see the direction of travel".