Frank Lampard’s Chelsea finished fourth last term and are expected to improve following a summer in which they signed the likes of Timo Werner, Kai Havertz and Ben Chilwell.
Arsenal only finished eighth last season but the Gunners look much improved under Mikel Arteta and won the FA Cup at the end of the campaign.
Murphy insists there is ‘more pressure’ on Lampard this season given Chelsea’s transfer activity but says they are ‘guaranteed’ to finish in the top four.
He told the Football Index Podcast: ‘There’s certainly going to be more pressure on Frank Lampard to deliver a trophy this season than there was in his first year, particularly with Abramovich bankrolling such a huge spending spree this summer.
‘I don’t think that pressure will impact Lampard at all though because it’s no more than the pressure he puts on himself to succeed.
‘He has a great squad now and there are no excuses not to deliver.
‘They’ve had a few injury problems, but I expect Chelsea to grow and grow as the season progresses and I think they’re guaranteed to finish in the top four.
‘I think Chelsea are still 12 months away from competing for the Premier League.’
Former England midfielder Murphy also expects Arsenal to finish in the top four and says the Gunners can finish above Manchester United and north London rivals Tottenham.
‘Even last season, you could immediately see the identity that he is trying to build on the pitch. The Arsenal team under Unai Emery was a joke, an absolute joke, but Arteta came in and organised them straight away.
‘To win the FA Cup and Community Shield has also bought Arteta a lot of time to implement his ideas and get the right players into the squad.
‘It silenced any doubters about his lack of managerial experience too.
‘Arsenal are my dark horse this season and I expect them to beat Manchester United and Tottenham to finish in the top four.
‘It’s big progress for Arsenal but I hope their fans don’t get carried away talking about winning the Premier League again.’