Saka opened the scoring early on before defender Kieran Tierney doubled Arsenal's lead just before half-time. Saka added a third just after the hour-mark, and Norwich's hopes were put to bed as striker Alexandre Lacazette scored a penalty in the final 10 minutes. Midfielder Emile Smith Rowe then helped turn the result into a thrashing as he scored Arsenal's fifth just before full-time.
Sunday's result moves Arsenal to 35 points after 19 games as manager Mikel Arteta's side earned their four-consecutive league win, aiding their bid to qualify for the Champions League for the first time since 2017.
"It's a very satisfying result because in this festive period we have to keep performances to a high level," Arteta said. "We looked really sharp and committed.
"It's a big win for us. The amount of chances we create is pleasing. We go to every ground to try and impose our game. Today was a really good example."
Saka gave his side an early lead with a well-worked team goal. The 20-year-old collected the ball on the right-hand side following a nice move from the visitors before cutting inside and firing past Norwich goalkeeper Angus Gunn.
Tensions threatened to boil over just before half-time, with two separate clashes between the two sides -- the first came after Arsenal midfielder Granit Xhaka was booked for a tackle on opposing striker Josh Sargent; the second came in the next phase of play after Arsenal defender Ben White made a tackle on Norwich's Brandon Williams.
Arsenal doubled their lead on the stroke of half-time when midfielder Martin Odegaard found Tierney with a through ball, who slotted home.
Arteta's side continued to dominate in the second half, and Saka took advantage once again, adding a third on 67 minutes with a powerful strike from the edge of the 18-yard-box.
Lacazette won a penalty on 83 minutes when he was brought down by Norwich defender Ozan Kabak, which he powerfully tucked away. Smith Rowe capped a successful Sunday for Arsenal as he came off the bench and netted from close range.
Information from Reuters contributed to this report.