The 21-year-old wants to make the breakthrough at the Gunners after a successful season-long loan at Birmingham
He won the Supporters' Player of the Year, Players' Player of the Year and Goal of the Season awards at their end of season bash on Monday
Toral is yet to play for the Gunners but believes he will be given a chance by boss Arsene Wenger to show he can emulate Alex Iwobi and Hector Bellerin.
He said: "Seeing players like Alex and Hector, they have been given the chance and taken it
I look forward to what's coming next.
"Arsenal have always been a team which has given young guys a chance and that was one of the reasons which made me go there when I was 16
"I think I'm ready but it's not for me to decide, you need someone to give you the chance at that level and it's up to Arsenal to decide if I'm ready or not.
"As a player, the next step is playing at the highest level and that's the Premier League."
Wenger has come under heavy pressure from fans for failing to win the league, which went to shock winners Leicester, but Toral backed the Frenchman to finally deliver.
He said: "There's no one more capable of getting a title for Arsenal than the gaffer
They have been closer this season and we'll see what happens next year."
The Spaniard, who spent time on loan at Brentford last season, scored eight goals in 38 games for Gary Rowett's Sky Bet Championship side but his campaign ended early after a hamstring injury in April
"It would have been better to finish off in the play-offs and fighting for promotion but it wasn't meant to be," he said.
"I've learnt a lot on and off the pitch
I've learnt so much from the Championship and from my team-mates and the staff."
Source : PA
Source: PA