"The move follows a full review by the Arsenal Board which included an assessment of the current economic environment and feedback from fans' groups," the London club said in a statement on their website.
Season tickets at Arsenal cost up to £1955, making them the most expensive in the Premier League, according to a BBC survey published last year. That covers seven European or FA Cup games as well as the Premier League campaign.
Arsenal have around 40,000 season ticket holders at the 60,000-seater Emirates and there is also a waiting list.
Champions Manchester City returned several hundred tickets for their match at the Emirates this month after their fans baulked at paying the price of £62.
Supporters' groups across the country are lobbying for a cap on ticket prices for away fans. Many are also questioning why admission is so much cheaper at matches in Germany's Bundesliga.
Arsenal fans have grown frustrated after the club sold top players Cesc Fabregas to Barcelona and Robin van Persie to Manchester United in recent years, accusing the board of putting profit ahead of performance.
Arsenal are sixth in the Premier League but have reached the last 16 of the Champions League.
The club has boosted its commercial revenues thanks to a new £150m-deal with airline Emirates. All Premier League teams will enjoy a further windfall next season thanks to greatly enhanced domestic and overseas TV deals.