Balogun has been heavily linked with a move away from the Gunners as his contract expires at the end of the season.
A number of sides are keen to sign the 19-year-old forward on a free, with Brentford and Southampton tracking him.
Arteta, however, wants Balogun to stay and is giving him more minutes in the first-team as a result.
“Well deserved for the boy. He’s working really hard,” said Arteta, when asked about Balogun’s goal in the 3-0 win.
“He had some difficult months with all the speculation around him, he’s handled the situation in a really mature way.
“He wants to stay, we want him to stay. We gave him the opportunity and he took it straight away.”
This weekend get a £10 free bet with Betfair, when you bet £10 on a Same Game Multi on the Premier League.
Terms: Min £10 Same Game Multi bet on any EPL match this Fri – Sun. Free bet valid for 72 hours, awarded at bet settlement. Excludes cashed out bets. T&Cs apply.