Arsenal travelled to Portugal for the first leg of their Champions League quarter-final tie, winning 1-0 on Tuesday night in what was a narrow win thanks to a goal from Kai Havertz.
Sporting arrived on the back of a 17-game winning run at home but were denied a result thanks to Raya who kept his 22nd clean sheet in his 41st appearance of the season for The Gunners.
Speaking after the game, Havertz praised the Spaniard who allowed him to grab the winning goal on the night after several fine saves.
"Unbelievable. I think still underestimated in the world of football but for me, the last two seasons, the best keeper in the world," Havertz said. "He's outstanding, he's saved us so many times and we're very glad to have him."
Arsenal are lucky to have Raya
Arteta, who will seek to defend the lead at the Emirates next week, agreed with Havertz as the Arsenal squad relied on Raya throughout the night.
"He had two moments where he made two big saves," the Arsenal boss said. "And that's the Champions League, the Champions League is always decided in the boxes and because there's so much quality here."
"At the moment he's (Raya) phenomenal and extraordinary since he joined us. We are very lucky to have him."
Arsenal have now avoided defeat in the first leg of their last nine European Cup/Champions League quarter-final ties and will have the home crowd behind them in the second leg as they look towards the Semi Final.