They currently sit 14th in table and their tally of 13 points is their lowest after the opening 10 matches of any league campaign since the 1981-82 season.
Next up for Arsenal on Sunday is a trip to face a Spurs side who, unlike the Gunners, have made a flying start and are currently top of the Premier League.
But Aubameyang believes a clash with rivals Tottenham is perfect for Arsenal to get their season back on track.
“I think this is the game that we have to make into a turning point for us this season,” he said.
“There’s nothing better than this game to give you that opportunity to turn things around. We have to understand that if we can win this game then everyone will change their mindset.
“A big result in the derby can really lift the players, the fans - everyone. We know it will be a tough game, they are playing well at the moment to tell the truth, but we have to take care of our game, how we want to play the game, and make it all about us.
“We are waiting for this game - we need to give everything to get the win and change our situation.”
Arsenal continued their fine form in Europe on Thursday night by brushing aside Rapid Vienna in front of 2,000 fans at Emirates Stadium.
Alexandre Lacazette, Pablo Mari, Eddie Nketiah and Emile Smith Rowe all got on the scoresheet, with Koya Kitagawa’s second-half goal the only black mark on an easy night for Mikel Arteta’s side.
Arsenal have now won each of their opening five matches in a major European campaign for only the second time in their history, but in the League it is a different story.
Their defeat to Wolves last weekend means they’ve already lost five games this term and Aubameyang admits the squad are aware they know they must improve.
“We were not happy with our performance at the weekend against Wolves,” he added.
“I think we showed two different faces in that match. We completely missed the first half, we didn’t play our usual game, how we want to play, and of course this is really disappointing for us.
“There’s a lot of frustration because we know we can do a lot of things much better than we did.
“In the second half we showed more that we are capable of putting the opponent in difficult situations, we created some opportunities to score goals, but in the end we couldn’t do it.
“I think the behaviours were better in the second half, though. For whatever reason we were not at a good enough level in the first half. We know that, and we know what we have to do better from now.
“More games are coming quickly now, and the good news is we know exactly what we have to change. So it’s up to us to do it.”
This weekend get a £10 free bet with Betfair, when you bet £10 on a Same Game Multi on the Premier League.
Terms: Min £10 Same Game Multi bet on any EPL match this Fri- Sun. Free bet valid for 72 hours, awarded at bet settlement. Excludes cashed out bets. T&Cs apply.