David Arshakyan

FC Mika

Arshakyan began his professional career with Armenian side FC Mika in 2012, and made three Armenian Premier League appearances as his side captured the 2012–13 Armenian Supercup.

FK Trakai

Arshakyan was transferred to Lithuanian side FK Trakai prior to the start of the 2015 season. In 34 A Lyga appearances, Arshakyan scored 25 goals and had six multi-goal games, including three hat-tricks, finishing the season just three goals shy of the top scorer in the league. That season, he also appeared in six UEFA Europa League qualifiers, scoring five goals in total. Arshakyan made 18 appearances for Trakai in the 2016 season, scoring nine goals, including a hat-trick over FK Utenis Utena on July 28.

Chicago Fire

On August 3, 2016, the Chicago Fire announced that they had acquired Arshakyan from FK Trakai, on a two-year contract with club options for the third and fourth years. Arshakyan made his Chicago Fire debut on August 27, 2016, in a 6–2 defeat against D.C. United, when he replaced striker Michael de Leeuw in the 56th minute. On December 18, 2017, Chicago and Arshakayan mutually agreed to terminate his contract.

Vejle Boldklub

On January 26, 2018, the Danish club Vejle Boldklub announced that they had signed Arshakyan on a free transfer. He signed a contract until the summer 2020.

Irtysh Omsk

On 23 September 2020, Arshakyan signed for Irtysh Omsk. On 31 March 2021, his contract with Irtysh was terminated by mutual consent.

As a youth player, Arshakyan represented Armenia at the U-19 and U-21 levels. In August 2016 Arshakyan was called up to the senior team ahead of its first match of 2018 FIFA World Cup qualification. On 4 September 2016 he debuted for the senior team, starting in Armenia's qualification match against Denmark.

As of match played 10 December 2017