Odegaard has been sidelined since the 4-1 victory over Tottenham on 22nd February due to a knee injury and has been working hard behind the scenes to make his return to the pitch.
The Gunners' skipper could be available for the trip to Wembley as Arsenal head into the Carabao Cup final, as Arteta confirmed he would be in contention:
"We're really pushing, he really wants to try to be available," the Spaniard said.
"But we'll have to wait and see in the next few days when he trains with the team, how he feels.
"We know the game that we're going to be playing in a few days again, and the more players that we have the better."
The Gunners face a tough test against Bayer Leverkusen without Odegaard this week before they come up against City in the final.
However, Odegaard offered an update on his injury this week as he hinted that he could be back to help the side to their first piece of silverware.
"I’m working hard to be back as soon as I can, and I’m feeling stronger all the time,” he said.
Arteta’s side are aiming to reach the quarter-finals of the Champions League on Tuesday before attention turns to the final where Odegaard could replace Eberechi Eze or Max Dowman in the side.