Thierry Henry insists Arsenal have had a fantastic season, despite their failure to get over the line in the Champions League.

Arsenal's wait to win the European Cup/Champions League will drag on after they lost 4-3 on penalties to Paris Saint-Germain, following a 1-1 draw at the Puskas Arena.

Kai Havertz struck in the sixth minute on Saturday, becoming just the third player to net in different Champions League finals for multiple clubs, but that was the only shot on target Mikel Arteta's team managed.

PSG relied on a penalty from Ousmane Dembele to restore parity in the second half, though Bradley Barcola missed two glorious chances before extra time was required, and eventually the shoot-out, with Eberechi Eze and Gabriel Magalhaes fluffing their lines.

Arsenal won the Premier League title for the first time in 22 years this season, though, and Gunners great Henry said there is nothing to be ashamed of for Arteta's men.

"People don't like to embrace failure – and this is not failure, that is a great season for Arsenal," Henry told CBS Sports.

"You came short against an outstanding team, you pushed them all the way," Henry continued.

"But failure helps you win so make sure you feel it and don't keep it too much but we'll be back."

Arsenal’s possession average (24.7%) was the lowest by a team in a Champions League final on record (since 2003-04), as well as their lowest in any match under Arteta when they had 11 men on the pitch throughout.

The Gunners have relied on their defence this season. Indeed, they shipped just seven goals across their Champions League campaign, while PSG conceded 23. However, Luis Enrique's team scored 45 goals, equalling the single-season record in the competition, set by Barcelona 26 years ago.

And Jamie Carragher believes Arsenal need an injection of world-class attacking quality.

"That's always been the criticism of Arteta. I think they played the only way they could have played to try and beat PSG," he told Sky Sports.

"I've said all season, and I thought it would stop them winning the league – it didn't – but Arsenal don't have enough quality in attack. There was times in the first half when they couldn't keep the ball. PSG weren't creating chances, but it was far too easy to allow a team to push you back to the edge of your own box.

"Arsenal are the best team in the world at defending their own box. Even if they are the champions of England, they need better attackers.

"When you look at the quality of the front four of PSG compared to Arsenal, it's night and day."