William Saliba, Gabriel Martinelli and Bukayo Saka all have two years left on their current contracts, but Arsenal are looking to tie down the trio, who could have lengthy futures at the club.
Arteta revealed that the club's hierarchy, including technical director Edu, are working on it.
"Obviously we have to plan for the future and we are all working on it," Arteta said.
"Obviously Edu is on top of it and all the board and we will try to do things in the right way, being fair and trying to plan the best possible way and reward the players that in our opinion have a big future for the club.
"At the moment we have something to announce, we will do that.
"We will try to do the same thing and make sure that the club is always protected, that the club is always in a good position to move forward and the players are happy to be at the club."
Arsenal host Group A leaders Bodo/Glimt in the Europa League on Thursday, with the Norwegian club a point clear of the Gunners having played a game more.
The midweek clash comes ahead of a crucial Premier League fixture against Liverpool on Sunday, with Arsenal looking to maintain their status at the summit of the table.
For Eddie Nketiah and the other Arsenal players who are outside the first XI, the Europa League offers a chance to push for places in the starting line-up.
"I think it's firstly a good opportunity for the whole team to build on the start we had with the three points (against FC Zurich in the first group game)," Nketiah said.
"It's a very important competition for all of us, we want to win, we want to qualify first because we know important it is.
"For myself, the more games the more opportunity to play so I'm looking forward to the games in Europe but also domestically as well."