Boss Arsene Wenger says Arsenal have to win all their remaining Premier League games if they are to be crowned champions.
The Gunners are 11 points off the top of the table with one game in hand and will today host Watford at the Emirates.
Leaders Leicester City are in action on Sunday with second-placed Tottenham Hotspur to face Liverpool away from home on Saturday afternoon.
"If we win all the eight games, we have more than a chance to win the league, but our target is to win the games," Wenger said.
"Let's start to be pragmatic, and win the next one which is [on Saturday].
"It depends on the results of Leicester City.
"We are depending on Leicester City and nobody knows how they will go in the last seven games. They have seven games, we have eight. What is important is that we play our eight games with complete commitment and passion, and see where we finish.
"Everyone says Leicester City is a team who have overachieved but now you see all their players go to play with their international teams and they are the best players in their national team. It is no coincidence that when a team does well, they have good players.
"The stress becomes bigger but Leicester are in a very strong position at the moment. They can still lose it. The only way we can achieve that is with us performing.
"[New signings?] At the moment we are starting to analyse players and get little lists of names, but I don't think it's the time for us to come out with names [like Granit Xhaka]."