The most high-profile of the new faces at the Emirates Stadium has been Alexis Sanchez, who joined from Barcelona on a long-term deal earlier this month.
Right-back Mathieu Debuchy has also been signed from Newcastle United, while Arsenal are set to announce the capture of Nice goalkeeper David Ospina.
Arsenal finally broke their nine-year trophy duck with a 3-2 FA Cup final triumph over Hull City at Wembley in May, a joyous end to the season for a side that had topped the Premier League table for long periods of the campaign.
And Cazorla believes the likes of Alexis and Debuchy can aid the club's title tilt in 2014-15.
"I have high hopes," he told Marca. "The signings of Alexis Sanchez and Mathieu Debuchy show that the club is building a team to challenge.
"Hopefully we can lift at least another trophy this campaign.
"Winning the FA Cup altered the type of pressure we'll be under this season. It unshackled us in a manner of speaking. After so many trophyless years, the tension was getting to the team.
"Last year maybe we didn't quite have enough strength in depth to win the league. We had to deal with injuries to important players, including Theo Walcott, Aaron Ramsey, Jack Wilshere, Mikel Arteta and Lukas Podolski, and I had niggling ankle problems.
"That meant that when push came to shove, we were unable to keep pace with Chelsea, Manchester City and Liverpool."