The 24-year-old admits they must win all six remaining Premier League games in order to have a chance of winning the Premier League.
“We know it is the only competition we have to play for now and we are fighting for the title,” Mascherano told the club’s official website.
“We have to keep going and maybe if Manchester United can drop some points we will be there.
“We have to look forward, try to win our next six games and we will see what happens.
“I think all the games we have left will be difficult, but the most important thing is to only think about the next one, which is Arsenal.
“Arsenal have some good players, such as [Emmanuel] Adebayor, [Cesc] Fabregas and [Robin] van Persie. They also have players coming back from injury who will be fresh for the final part of the season.
“Arsenal will want the points because they are fighting for fourth place, so I think it will be a very good match for the supporters to watch.
“I don’t know if it’s a bad time to be playing them, but we are playing well and have confidence. If we play to our level then we will have a chance.”
