The Gunners came up short in the Premier League once again this season as they ended up finishing in sixth place in the table.
The north London side are now on the lookout for a new manager after Arsene Wenger called time on his 22-year reign at The Emirates at the end of the season.
Arsenal have struggled to maintain title challenges in recent seasons as they ended up fifth and sixth in the last two campaigns.
Indeed, the Gunners have not lifted the top-flight trophy since their famous unbeaten triumph in the 2003-04 campaign.
However, Arsenal goalkeeper Cech feels that the Gunners have the basic ingredients needed to challenge for the Premier League title next season under their new manager.
Speaking to Metro, Cech said: “Are we far away from mounting a title challenge next season? I don’t think so.
“When you see our home form we are up there. The difference between us and the others were away games. We had a terrible run of results away from home and that is what cost us this season.
“But I think the new manager, or new coach, will find a great setup with a very healthy club and a great support.
“The team didn’t perform as well as it should but the potential of this team is much bigger than we showed, especially in the away games this season.”
It remains to be seen who Arsenal will appoint as their new boss but the Gunners are believed to be keen to announce their next manager before the start of the World Cup in Russia next month.
Arsenal will be aiming to mount a title challenge next season under their new leadership.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news