Round helped the north London club win the FA Cup in 2020 while he had two years left on his contract.
The 53-year-old has had an extensive career coaching in England and has worked with Newcastle, Everton and Manchester United all as an assistant manager.
He also worked with Steve McLaren as his assistant for the England national team in 2006 to 2007.
In terms of replacements, there have been rumours that Santi Cazorla could return to the club.
The Spaniard has left Al Sadd in Qatar and the 38-year-old has previously mentioned that he would love to work under Arteta.
“It is something that I would value tomorrow, now I am not considering it,” Cazorla said in an interview with AS in 2021.
“If I am given the opportunity and he believes that I can help him, it is something that I would not mind and would leave the door open to enjoy that experience with him.
Round joined alongside Arteta in 2019
Round joined alongside Arteta in 2019
“But there is nothing for today, it will be seen.”
Cazorla spent six years with Arsenal and would be welcomed back by fans, who adored him during his time there.
Injuries left the playmaker fighting for his future in football but he bounced back to play a further five years in football for Villarreal and Al Sadd.
But now without a club and a position up for grabs, Cazorla could make a grand return to Arsenal.
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