The Chelmsford-born winger has been at the centre of much talk of late after putting in a good performance in their FA Cup tie away at Mansfield earlier this month.
After a stellar display against the League One strugglers he was brought on against Everton in their Premier League clash at the weekend.
The 16-year-old entered the pitch in the 74th minute with the score at 0-0, after the league leaders struggled to breakdown the defiant Toffees.
Dowman looked to make a positive impact off the bench and was an integral part in the opening goal for Viktor Gyokeres in the 89th minute after he whipped in a fantastic cross and caused problems in the box.
As Everton began to press for an equaliser, goalkeeper Jordan Pickford came up for a corner in the dying embers.
The ball was cleared by Arsenal and with Pickford caught up the pitch, the 16-year-old managed to blaze past two Everton players and slot the ball home in what was virtually the final kick of the game.
Dowman at 16 years and 73 days has taken the record from James Vaughan who scored on his Everton debut aged 16 years and 270 days on April 10, 2005.
His record-breaking goal marked just his third Premier League appearance for the gunners and his first senior goal.
He finds himself in good company on the youngest scorers list, with the likes of all-time Premier League appearance maker, James Milner and Premier League legend Wayne Rooney.