The Spanish midfielder has spent the past season and a half working under his compatriot with the Gunners and has tipped to emulate his former coaching colleague Pep Guardiola.
Ceballos said: "Arteta is a coach who has been with Guardiola for a few years.
"He is a coach who in a few years will be one of the best, but I would like to return to La Liga."
Ceballos will return to Real following the end of his latest loan spell with Arsenal and is keen to discuss his prospects at the club with new manager Carlo Ancelotti.
He said: "I believe that this year I have hardened a lot as a player and I think now is the time to settle in a club with a long contract and be able to show my game.
"Ancelotti has just arrived and we have to talk. I have never met him, but there are players who speak well of him. I'm sure that Madrid will be good.
"It is clear that the first thing is to talk to the coach and find out what he wants from me and also tell him what I want, which is to be important.
"I am not going to the European Championship and soon there will be a World Cup. It has to be a talk between the two with clear things."