The Swede hung up his boots last year after ending a one-year stint with Japan's Shimizu S-Pulse. Aside from the Japanese club, the nomadic midfielder also played for the likes of Celtic, Seattle Sounders and Chicago Fire after leaving the Premier League in 2008.
Last week, he was appointed as a club ambassador for the Gunners and has taken an active part in their pre-season activities. He has already visited Vietnam and is currently in Indonesia ahead of the club's summer friendly against the Indonesian national side next month.
The midfielder, who scored 46 goals for the side over nine years, reveaeld that he was particularly concerned about the state of the midfield. Despite selling key players such as Alex Song, Cesc Fabregas and Samir Nasri, manager Arsene Wenger has not actively dipped into the transfer market to secure suitable replacements with Santi Cazorla the only notable exception.
"It's up to the manager how he'll reinforce midfield," Ljunberg told foxsports.co.id.
"In the past the manager has shown he knows what he's doing, and in the summer I think we can strengthen the squad.
"They started the season a bit slow [last year]. The structure of the team eventually became solid and players became more settled as the season went on.
"I think the main thing is to maintain consistency throughout the season."
And he stated that he was excited for the coming season with new managers expected at Chelsea, Manchester United and Manchester City. The 36-year-old is glad, though, that the board has stood by Wenger and hopes for a strong start to the new season.
"I think it's always interesting in the Premier League. Manchester City will have a new coach, United will have one, so will Chelsea.
"Arsenal's keeping Arsene and he should stay since he's such an amazing coach. So it's going to be interesting that way. We'll see if Arsenal kick-off the season on a high.
"I always predict that Arsenal will win [next season]. I am a Gunner at heart so definitely, I say that every year that Arsenal will win!
"As for the Champions League, Arsenal will have a good chance and of course I hope that they win it. Manchester United will remain strong."
Ljunberg is in no rush to come out of retirement and head into management even as former footballers such as Filippo Inzaghi and Zinedine Zidane are reportedly being considered for future managerial roles at AC Milan and Real Madrid respectively.
"I've been asked to be involved in management but I've decided to spent more time this year with my family, so the future hasn't been really decided yet."
Arsenal will play Indonesia at the Gelora Bung Karno Stadium on July 14 and will follow that match with another friendly against Vietnam at the My Dinh National Stadium.