Robin Van Persie fears that a Guus Hiddink-inspired-Chelsea could end Arsenal's hopes of lifting some silverware this season.
The Gunners face their West London rivals in an FA Cup semi-final at Wembley on Saturday, with the winner facing either Everton or Manchester United in the final.
Arsene Wenger's men could also come up against the Blues in the UEFA Champions League final in Rome if both teams come through their last-four ties.
The Dutchman insists that Arsenal will head into the weekend's cup clash high on confidence having beaten Chelsea 2-1 in the Premier League at Stamford Bridge earlier in the season.
"The first thing I thought when he (Hiddink) came was 'oh no'," he said.
"Chelsea are still in the FA Cup and Champions League and he will win something.
"He is unbelievable. Everything he does turns to gold. When I saw him two years ago in Holland, because we use the same physio sometimes, I asked to see his hands.
"He said 'yes why?' I said that everything he puts his hand on turns to gold. He was laughing."
The 25-year-old is expected to sign a new deal at the end of the season and he is pleased that the club have begun to match his ambitions on the field after their Champions League quarter-final win over Villarreal.
"I think the main thing is that Arsenal really want to extend it and I want to extend it as well," he added.
"For me, I believed every step. We can call ourselves one of the best four teams in Europe and that is about right.
"Now we want to move on and win it. That was my target, that is what I wanted. I wanted to do it with Arsenal. That is the biggest part of my dream.
"For me, it shows a lot that we are in this position now. That makes me really happy."
Meanwhile, fit-again Gunners captain Cesc Fabregas admits that he is relishing the prospect of leading the team out at Wembley against Chelsea.
"I'm looking forward to it immensely," he said. "It is a great stadium from what I heard, with 90,000 fans, so it will be good to play a semi-final there.
"I dream of lifting the trophy every day, for me it is the best thing that would ever happen to me. It is a dream for me but we have to work very hard to get there."
The Spaniard is also grateful to Arsenal physio Tony Colbert for making sure he returned for the crucial run-in, and the former Barcelona graduate admits that at times it was tough.
"In the last six weeks I really worked hard with our physio, Tony Colbert, who was killing me," he revealed.
"I thought he was crazy but now I know why he was doing it because I feel quite strong.
"This is just my fourth game. Still the last 10 minutes of each game I still feel a little bit but I think in the next game I will be there."