Nigel Winterburn played in several winning Arsenal teams and has only named Pierre-Emerick Aubameyang and Bukayo Saka as potential squad members.
The former left-back won top flight titles under George Graham and Arsene Wenger in north London.
Nowadays Arsenal are nowhere near being able to challenge for titles.
Their last league success came almost 20 years ago and Mikel Arteta is now tasked with returning them to the top.
He has a mixed squad that contains talent players but also some that need to be moved on.
Saka has been a bright spark over the past 12 months and continues to impress.
Aubameyang has been a leading light at the Emirates up until this season with his form dipping massively.
And Winterburn admits he is hardly spoilt for choice when picking players who could've featured in the sides he played in.
He said: "I look at this team today. I think there's maybe one or two that get into the squad back then.
"But I'm not sure there would be anybody I would swap out of those teams I played in."
When asked if Aubameyang, who has scored 75 goals in 124 games for Arsenal, would make it in Winterburn replied: "Who would I put him in for?
"Would I put him in instead of Ian Wright? Would I put him in instead of Thierry Henry? I don't think many people would take that hit.
"I'd have him in the squad. I'd have Bukayo Saka in the squad, for sure. There's probably a couple more."
Arsenal have struggled massively this season but got back to winning ways against Chelsea on Boxing Day.
It bought to an end a run of seven winless games in the Premier League and pushed them clear of the bottom three.
Nigel Winterburn was speaking after the launch of free-to-play fantasy football jackpot game Fantasy5.
