Arteta has just one more season to run on his deal at Emirates Stadium and Arsenal generally only offer 12-month extensions to players over the age of 30.
The Spaniard, who turned 32 in March, has made 42 appearances this season and has been a key figure for Arsene Wenger's side since joining from Everton in 2011.
He is unsure if Arsenal are planning to change their policy regarding contracts, but is keen to state his case regarding his worth to the club.
"I don't know what is going to happen," Arteta added. "With players over 30 they have a policy and I don't know if they plan change it or maintain it.
"Depending on what their mind is I will give them my opinion and how I see it.
"I don't value players by age, whether it is Tomas Rosicky or Jack Wilshere. I analyse many other things before age.
"For the club, it can be an asset. For me, a much bigger asset is someone who has played over 125 games in three years compared to someone who has played 25 and is 20.
"I understand the club's point of view - Mikel is not a £25million player because he is not 22 anymore - but I know what I can give.
"So it is to find the right balance between mentalities is something that we need to analyse and talk about."