Mikel Arteta is targeting Champions League glory after celebrating his "proudest night" as Arsenal manager on Wednesday as the Gunners knocked out holders Real Madrid to reach their first semifinal since 2009.

In a dramatic night at Santiago Bernabeu, Bukayo Saka missed a first-half penalty before opening the scoring on 65 minutes with a well-taken finish. Vinícius Júnior equalised two minutes later, but Gabriel Martinelli stuck in stoppage-time to hand Arsenal a 2-1 win on the night and a 5-1 victory on aggregate.

The Gunners face a two-legged semifinal against Paris Saint-Germain beginning on April 29 and Arteta said: "The feeling that we have is a reality, basically. And the inner feeling that I had before the tie: while the players were transmitting and how prepared I could feel the team was, that we are ready to compete against anybody.

"Now we have to continue to do that because I think we have some momentum. I think it's the purpose of our job to make our people happy. Hopefully, they feel very proud about the players and the team. And now, let's go for more."

Saka's 13th-minute miss from the post came as he tried a Panenka chip which was clawed away by Thibaut Courtois.

Arteta joked: "I didn't want to die but maybe I wanted to slap him! He made that decision, he was bold enough to do it. I was more concerned about the emotional part, what it could do for us."

Saka played down the miss after the game and said his focus was on reveling in a famous win for the Gunners.

"It can happen. I tried something, but it didn't work. I was confident I was going to score tonight," Saka said. "I learn in every moment. Tonight, I am more focused on enjoying the win and then I will review it properly."

Arteta also said he spoke earlier in the day to Manchester City boss Pep Guardiola, with whom he continues to enjoy a close working relationship after three years under his tutelage as a coach at Etihad Stadium.

"I called him this morning because I am here thanks to him," said Arteta. "As a player and a coach he has been an inspiration to me. I had four amazing years with him, and I will always be grateful to him."