The Armenian came off the bench to snatch an equaliser with just four minutes remaining to make it 16 matches without a loss for Unai Emery's men.
Ivan Cavaleiro looked like he had brought that fine run to an end as he stunned the Emirates on 13 minutes.
He latched on to a mistake from Arsenal's Granit Xhaka and played a one-two with Raul Jimenez before slotting home to break the deadlock.
The visitors survived a huge amount of pressure from the hosts and looked like they would hold on for all three points before Mkhitaryan's late strike.
Full report to follow…
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