The Magpies have enjoyed some relief in recent games after a troubled first half to the campaign which left them near the Premier League relegation places.
Their inconsistent form came as a disappointment after Alan Pardew led them to an impressive fifth-placed finish last term.
But Ben Arfa believes this year's campaign will finish better than expected, with Europa League success still within their reach, and feels he can fulfil his trophy ambitions at St James' Park in the future.
The Frenchman, whose appearances for Newcastle this season have been limited by a hamstring injury, told The Times: "It's really special to be back. I think we can turn this into a better season than it might have seemed.
"I'd love to win titles, silverware. To give everything I can so that at the end of my career I can look back and have no regrets. Why not here? It's a beautiful club.
"There's everything here to succeed; a great stadium and infrastructure, brilliant fans, good players. Everything is in place."
An influx of French signings in the winter transfer window has given Newcastle a boost both domestically and in Europe, and Ben Arfa has hailed the club's recruitment drive.
"I feel a great sense of pride to see all the French players arriving," he said. "They are great signings. We've recruited very well."
Ben Arfa is keen to repay manager Pardew for the faith shown in him, adding: "We have a good relationship.
"He's given me a lot of responsibility, but he's done it gradually, so he's learnt exactly where I play best. And he now has confidence in me, which has really helped my game. I want to repay him for that."