The Spain left back joined the Gunners from Malaga on transfer deadline day in January, taking the same route as Cazorla did last summer.
Monreal has six games under his belt and opened his account for the Club with the vital first goal in a 2-0 win at Swansea City before the international break.
Cazorla could line up alongside his compatriot on Tuesday when Spain face France, and he believes Arsenal have chosen well.
"He's a very good signing, and he’s proving it," Cazorla told Arsenal Player.
"Nacho is a footballer I really enjoy watching and playing with. I spent last season with him at Malaga and he was a vital player for the team. He’s adapted to the Premier League very well. What’s more, our style of play suits him because he’s someone with a lot of movement.
"I think Arsenal have really got it right with the transfer. I’m very happy because he’s a great mate."
We know each other from Malaga and I know it can be difficult when you arrive
Cazorla turned to Mikel Arteta for guidance when he first arrived in England and he in turn has helped Arsenal's latest Spanish signing to settle.
"We know each other from Malaga and I know it can be difficult when you first arrive," said Cazorla. "I had the exact same experience and, thanks to Mikel, I adapted much better. So I know, for Nacho, it makes it easier to adjust if he has me and Mikel.
"We’ve tried to help him settle as easily as possible and, little by little, he’s understanding more. He’s got a feeling for the Club. I talk to him every day and he’s very happy to be at Arsenal."Copyright 2016 The Arsenal Football Club plc. Permission to use quotations from this article is granted subject to appropriate credit being given to www.arsenal.com as the source