Aneke has made three appearances for the Railwaymen so far this term, but was sent off during his second outing for Steve Davis' struggling side.
Crewe have managed to win just four points from their opening ten league fixtures, having achieved promotion to English football's third tier by winning the playoff final.
Aneke, 19, has made just one first team appearance for Arsene Wenger's first-team since graduating through the Arsenal youth ranks in 2011, and has also spent loan spells with Stevenage and Preston.
The England under-19 international's only senior Arsenal game came in last season's League Cup defeat against Shrewsbury at the Emirates Stadium, before he was sent out to gain further experience elsewhere.
Aneke will now stay with Crewe until November 12 and is available for the weekend meeting with Hartlepool.