Saka struck late in each half at the Emirates Stadium before Kai Havertz wrapped up Arsenal's fourth win in six games in the revamped league phase of Europe's elite club competition.
The Gunners sit third in the table with two games remaining as they chase automatic qualification for the last 16 via a top-eight finish.
With matches against Dinamo Zagreb and Girona to come in January that should be a simple task for Arsenal.
But if Arteta's team are to win the Champions League for the first time, they will need England star Saka to maintain his superb form.
The 23-year-old has five goals in his last six games in all competitions and nine for the season, as well as a hatful of assists.
Even those impressive statistics don't do justice to Saka's influence on Arsenal.
Arteta knows better than anyone just how much Saka has developed since the Spaniard took charge in 2019.
"He looks really mature. What he has already done in the game at his age is incredible. Very humble, a great guy to have around and an incredible talent," Arteta said.
"He's a special person. In his role his leadership is increasing. With the young kids he is amazing, with the seniors he is amazing. He is loved by everybody and he makes the difference on the pitch."
'The ambition he has'
Saka is a quiet, unassuming personality both on and off the pitch so there is little chance of him blowing his own trumpet.
But pundits are starting to rank the winger as one of the world's best forwards and Arteta agrees that he is on the right trajectory to be rated alongside the likes of Kylian Mbappe, Erling Haaland and Vinicius Junior.
"That is what he wants to do. That is the ambition he has and the quality he has. He is preparing himself every day so I'm not surprised," he said.
"You have to be able to do that consistently throughout many years to prove yourself in that position.
"What he has done at that age, you can put him in those brackets. What he done in his six years in professional football is exceptional and that's it.
"That has been an evolution. He wasn't able to do that at 18 or 19. A year or two ago, he developed in the right way, his condition, his preparation.
"Now he has the habit to play every three days and he is doing that at the highest level."
Arsenal have won five of their last six games in all competitions, but Arteta admitted they still weren't at their best against Monaco.
They wasted a series of chances in the first half and were fortunate that Monaco missed opportunities to equalise before Saka's killer second goal.
"We should have scored four or five in the first half but it wasn't the case," Arteta said.
"In the Champions League you will have difficult moments and we suffered but then with the second goal the game was in control."
Arsenal bowed out of the Champions League against Bayern Munich in the quarter-finals last season.
They look a more mature side in Europe this term and Arteta is confident of mounting a serious challenge for the trophy.
"We are enjoying our run. We can compete against any team," he said.
"We keep learning. Obviously we need much more, we need to go through certain moments and I'm sure we will in the near future."
© 2024 AFP