The Gunners have slipped seven points behind pacesetters Liverpool after taking just one point from their last three matches but the Sky Sports pundit is standing by his pre-season prediction that Mikel Arteta's team will come out on top in the title race.
Neville said: "There is an element of them feeling sorry for themselves because they've got a few injuries - come on! You can win the league title, become Arsenal legends! No one is interested in whether you've got a few injuries, those players will come back, don't wait for them.
"They've had some tough games, going to Newcastle is tough. But Arsenal at this moment, there are big questions being asked. But I don't rule them out of winning the title - I've still got them winning the title. This might be what they need. I might look stupid and people will play this back in months going, 'What the hell were you talking about?'"
Neville is disappointed by the way Arsenal have started the season but has backed them to put the pressure on Liverpool and Manchester City in the closing months of the campaign.
He said: "I feel most connected to a title race and I think what does a team need? Man City aren't quite right, Liverpool aren't perfect and sometimes you need this serious blip, it has been a poor start, but they could go on a run, get their players back and be very dangerous. Hit your form in March, April and May - that's when you really want to be flying."