Mesut Ozil, Alexandre Lacazette, Pierre-Emerick Aubameyang and Matteo Guendouzi were among around a dozen players at the party in August
A number of Arsenal stars have been filmed inhaling nitrous oxide and passing out at a wild champagne and vodka party.
The footage obtained by The Sun shows Mesut Ozil, Alexandre Lacazette, Pierre-Emerick Aubameyang and Matteo Guendouzi at the centre of the dangerous binge on ‘hippy crack’.
Around a dozen players were joined by 70 girls at the boozy bash in London just days before the start of the season in August.
Arsenal have since promised to warn the players involved over their conduct.
A spokesman said: “The players will be spoken to about this and reminded of their responsibilities as representatives of the club.”
Ozil, 30, appears to fall semi-conscious with a gas-filled balloon in his mouth, while Guendouzi, 19, seems to pass out completely.
Nitrous oxide gas can cause coordination problems, heart attacks and its use has even resulted in death.
Gunners striker Aubameyang, the Premier League’s top scorer, and Sead Kolasinac also appear in the video with balloons in their mouths.
According to The Sun, the players racked up a bill of between £25,000 and £30,000 during the private bash at the exclusive Tape club in London’s West End.
A source at the party told the newspaper: “Boxes of ‘hippy crack’ canisters were brought in and the players were blowing up balloons and inhaling.
“They were off their heads on the gas — some of them appeared to pass out. It got pretty wild.
“Ozil looked out of it at one point. He took a big draw on a balloon then seemed to lose consciousness and slide down in his seat.
“The young player with the curly hair was also encouraged to have a go and the effect was even worse.
“He inhaled the gas then passed out completely and slumped to one side on a sofa.
“It was incredible to see so-called athletes and role models taking risks with a dangerous substance.
“If their fans — and their coach — could have seen what was going on they’d have been horrified.
“It got more raucous as the drink flowed. Several left with girls in black Mercedes people carriers as it wound up at around 4am.”
Arsenal suffered a slow start to the season, losing 2-0 to Manchester City and 3-2 to Chelsea in their opening two games, however they have since embarked on a remarkable 20-match unbeaten run.
The scandal is the latest in a string of stories relating to high-profile footballers and the use of nitrous oxide.
Man City winger was twice spotted inhaling the gas during his time at Liverpool, while right-back Kyle Walker was forced to apologise in 2013 for the same thing.