Arsenal's win eased the pressure on beleaguered manager Arsene Wenger, the team still reeling from a heavy Champions League defeat to AC Milan and an FA Cup exit at Sunderland.
The victory also denied Tottenham their first season double over Arsenal for 19 years, and moved Arsenal back into the Champions League qualification places ahead of Chelsea.
Tottenham claimed early bragging rights, but the game was transformed in three remarkable minutes shortly before half-time which saw Arsenal claw their way back to 2-2.
Sagna pulled the first goal back with a well-directed looping header from Mikel Arteta's cross on 40 minutes. Three minutes later captain van Persie equalised with a sublime individual effort, curling beyond Brad Friedel for 2-2.
Tottenham boss Harry Redknapp stiffened his midfield at half-time, replacing Saha with Sandro and introducing Rafael van der Vaart in place of Niko Kranjcar. But Rosicky still made it 3-2 on 51 minutes.
Arsenal maintained the onslaught and Walcott made it 4-2 on the counter-attack in the 65th minute, then bagged his second on 68 minutes.
Tottenham's misery was complete when Scott Parker was sent off for a second yellow card.
- AAP