"They've done brilliant. It's pretty similar to what we did last year. They're probably not too happy with how they've done in the league," said Carragher.
"I hope they do well. The football they play is outstanding. They probably are the best footballing team in the country.
"The way they played against Juventus in the first leg, if they get anywhere near that they'll certainly go through.
"Juventus will realise they are 2-0 down, and they are going to try and put Arsenal under pressure and get an early goal. If they get an early goal it could be difficult, but if Arsenal get an away goal it's all over.
"I think the job Arsene Wenger's done over 10 years or so, he's never quite got the Champions League, whereas [Rafa] Benitez, [Alex] Ferguson or [Jose] Mourinho have. The job he's done at Arsenal he probably deserves that because he's done as good a job as any of them."