While Saliba will head back to Saint-Etienne on loan next season, Gunners fans will be hopeful that Ceballos will have a more immediate impact on their team.
Although he is only joining on a temporary basis in the form of a 12-month loan, the Real Madrid man is a class act who will surely galvanise Arsenal ahead of their new campaign.
Ceballos has already hailed Unai Emery as a major reason behind his decision to join the London club, and that bodes well.
Arsenal are confident that the 22-year-old will prove a far better acquisition than Denis Suarez, who cost the club £30,000-per-minute of action during his six-month loan from Barcelona.
But how does Emery intend to integrate Ceballos into his team, or will he build it around him? Starsport looks at three potential formations below.
The Spain international has played the bulk of his career in central midfield and presumably that’s where he will be deployed by Arsenal too.
The Gunners have been looking to replace Aaron Ramsey ever since it became evident that the Welshman had no intention of extending his decade-long stay at the club.
Ceballos may not bring as much energy and dynamism to the side as Ramsey but he will fulfil a similarly productive role – albeit with a differing style.
Arsenal need someone to be the link between midfield and their potent strike force of Alexandre Lazacaette and Pierre-Emerick Aubameyang.
The someone was originally supposed to be Mesut Ozil but that plan has surely now fallen by the wayside.
Emery may experiment with Ceballos out on the left flank or even playing the Santi Cazorla role of perpetual motion ball-shuttler.
Los Blancos refused to include an option to make the Ceballos deal permanent because they know what a significant talent the former Real Betis ace is.
Emery may choose to play his latest recruit just ahead of the Granit Xhaka and Lucas Torreira axis, with the aim being to get him on the ball as foten as possible and drive at the opposition to create space on the flanks.
Once Hector Bellerin is fit and raring to go, expect Emery to revert to his wing-back heavy formation which could see his new arrival flourish by picking defenses apart with pinpoint through-balls.
Matteo Guendouzi and Henrikh Mkhitaryan may find their opportunities limited by Ceballos’ arrival but Arsenal fans will not mind that.
Where Suarez failed, expect Ceballos to succeed and become a pivotal part of Emery’s second season at the Emirates.
Whether the former Paris St-Germain boss can squeeze £350,000-per-week earner Ozil into the side as well, remains to be seen however.