Pierre-Emerick Aubameyang was the club’s last permanent captain, but he was removed from the role last year before leaving the Emirates Stadium in January.
Alexandre Lacazette was temporarily given the armband, but Odegaard has now been chosen as the new skipper.
The 23-year-old, who also captains the Norway international team, first joined the Gunners in January 2021 on loan from Real Madrid.
Odegaard impressed during his short-term loan spell and made the permanent move to the Emirates Stadium the following summer.
The attacking midfielder became an important cog in Mikel Arteta’s side last season with his creative abilities and leadership qualities.
He helped Arsenal mount a top-four challenge until the final stages of the campaign, when they were ultimately pipped to the post by north London rivals Tottenham.
Former Arsenal player Adrian Clarke has labelled the decision to name Odegaard captain a good call.
‘I think it’s the right call,’ Clarke wrote on Twitter.
‘Excellent, fast developing player who often sets the tone with his industry and attitude.
‘Hopefully the captaincy will inspire him.’
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