After nine years without collecting silverware, Arsenal are on the brink of a drought-breaking crown as they prepare to face Hull City in Saturday's Wembley final.
Overwhelming favourites to win their first title since the Cup in 2005, Arteta hopes Arsenal can turn a corner from their extended period of trophyless football.
"With the history we have over the last nine years without any trophies at all it could be a great turning point," Arteta said.
"It's something more than the trophy as to what it can mean to the club, to the fans, to everyone."
Arteta said there was no way of measuring what confidence Arsenal could gain by breaking their poor run, and silencing their critics.
"In the league we've done better than last season and two seasons ago," he added.
"We killed ourselves because we had two or three bad results against big teams away from home that didn't put the good season we had in a realistic way. In the Cup we have a chance to put it right.
"When you get to that line and you win, it creates a lot of confidence. It builds something special between the players, the staff, the fans.
"Suddenly you have a Charity Shield to play with another opponent and win another trophy and the ball is rolling. That is why it's more than just a final and a trophy."
Arsenal have remained relatively successful despite a lack of silverware, given their habit of qualifying for the UEFA Champions League year-on-year.
But Arteta acknowledged that would not be a guarantee in 2014-15.
"It's only going to get harder," he said.
"The competition just to get into the Champions League is going to be massive.
"Two or three teams (will miss) out and that's a horrible season. But that's going to happen next season."
