"After the result over the weekend (beating Manchester City in the Community Shield) ... There has been a lot of positivity over the summer (after the FA Cup win). We are no more a selling club, we are a buying club and we've bought some great players this summer," the Swede said at the Puma launch of Arsenal's new jerseys here.
Asked what are Arsenal's chances in this year's Champions League, Ljungberg said "We have got some great players in the squad after whipping out cheque book to buy players. I believe the mentality is a big factor this season and there are a lot of players in the squad with positive belief."
Asked about Arsenal's chances in this year's English Premier League, Ljungberg said the team would go for the title and for that to happen, they should go all the way instead of ending up at the top midway and losing out from there.
"Of course we are going to go for it. I think we need to go all the way and not end up top until January or February. We have strong squad this year," he said.
Ljungberg said there is a bright future ahead for Arsenal, which ended their nine-year lean patch with victory in FA Cup last year, with Arsene Wenger having the wherewithal to get best players, which was witnessed by signing of Mesut Ozil and Alexis Sanchez.
However, Ljungberg had words of appreciation for Wenger even though success played truant with him. "I think Wenger has been unfairly criticised for Arsenal's lack of success over the past few years. The club were under financial constraints and the manager sacrificed a lot during that spell," he said.
Wenger also is one of the best manager's in the world as he is an intelligent and calculating person - knows exactly what he and the team needs, Ljungberg said. "For example, he won't scream at the players at half time if we're losing. He would give us a few minutes to calm down and then give us constructive criticism which really helped. We knew when he was angry, but he isn't like the other managers who can really lose their temper.
Asked whether he sees Wenger hanging his boots soon, Ljungberg said, "I don't think he is going to retire anytime soon."
Asked who is the best player in the current squad, Ljungberg said it is very difficult to pick one because all of them are great players, but he wanted Alexis Sanchez. "I wanted the club to sign him after the 2010 World Cup in South Africa. I am glad we did now, even though it was after four years."
Ljungberg said Dennis Bergkamp was the best Arsenal player he has played with. He also praised aggressive midfielder Robert Pires. "He is someone I still train with," Ljungberg said. Pires is also a part of the ISL this season.