The winger netted five times in the final three games of the season and finished the campaign with 16 goals to his name.
Only Alexandre Lacazette has scored more times for Arsenal this season and, when it comes to assists and goals combined, no one has been more prolific for the Gunners than Pepe in 2020/21.
The 25-year-old had struggled since joining Arsenal from Lille in 2019 for a club-record fee of £72million.
But asked whether fans can expect to see the best of Pepe next season, Chambers said: “Yeah.
“I think he’s on good form at the minute and he’s been playing really well and scoring good goals and his confidence is high.
“We’ve seen that all along and we’ve known the quality that he’s had and it’s just really nice to see him show everyone else what he can do.
“He was covering me defensively [against Brighton], which is amazing. I think he’s improved a lot, he’s a great player and we’ve seen it from the start in the first day of training, we’ve seen his quality, and I think now he’s really starting to show everyone what he can do.
“We’re all delighted for him.”
Now the season has finished, Arsenal are expected to step up plans to strengthen their squad this summer.
Arsenal are also looking at bringing in two new full-backs, a centre-back, central midfielder and possibly a striker, too.
Goalkeeper Mat Ryan is also likely to stay at the club after fitting in well during his loan spell from Brighton.
The Australian has impressed staff at Arsenal with his work ethic and professionalism since joining in January.