By FOX Sports staff
Arsene Wenger's side face another trophyless campaign with a difficult 3-1 deficit to overturn in their last-16 UEFA Champions League tie with Bayern Munich.
Currently fifth in the Barclays Premier League and a massive 21 points behind leaders Manchester United, the league title is also out of the question for Arsenal.
With only Champions League qualification left to play for, Overmars has no doubts about the importance of Sunday's north London derby against third-placed Spurs, who sit four points clear of Arsenal.
"Sunday is crucial for them," Overmars told talkSPORT.
"At this moment in the Premier League, it is very difficult for Arsenal. They have to win the match. If they don't, the season is over."
However, the Dutchman, who played for Wenger during more successful times at Arsenal, believes a change in management is not the way forward for the club.
"They have to keep faith in Mr Wenger and the board," he said.
"The problem is football has changed a lot in the last 10 years. With all clubs having private investors or owners, it makes it more difficult.
"In my period, we had seven or eight English players in the team and three foreigners. These days it is the opposite. So it makes it more complicated to get the right player into your team."
Tottenham are looking to finish above their north London rivals in the league table for the first time in almost 20 years.
Arsenal will be out to complete a season double over Tottenham with a win having beaten Spurs 5-2 at the Emirates Stadium in November.