The two forwards were part of an attacking lineup but were beaten to the opening goal by Shkodran Mustafi whose powerful header opened the scoring.
Aubameyang scored the second for Arsenal with a sublime curling effort from outside the 18-yard area.
Cardiff and Arsenal have not played each other since January 1, 2014, when Arsenal defeated the Bluebirds 2-0 at Emirates Stadium.
The Bluebirds now have a daunting three-game run with a trip to Chelsea sandwiched between home games against Arsenal and champions Manchester City.
However Lacazette had the final say when he thundered a strike past Etheridge to get the goal his performance deserved.
Cardiff knew Cech's discomfort with the ball at his feet was a weakness to exploit and the 37-year-old either nearly lost the ball inside his area or passed it straight to an opposition player three times inside the opening 15 minutes of the game.
And just three weeks into the new season, Wenger's replacement as Gunners manager has already discovered that getting the best out of Ozil could prove to be no easy task. Petr Cech also had a nightmare with the ball at his feet and if Unai Emery is intent on playing the ball out from the back it may be time for Bernd Leno.
There are no question marks on his shot-stopping ability but with Emery persisting with passing out from the back, surely it is time to offer Leno a chance to impress?
Xhaka needlessly gave away possession and Camarasa, the Spanish midfielder on loan from Real Betis, ended Cardiff's 315-minute wait for a league goal by reacting quicker than Monreal to Joe Bennett's cross.
DF Sokratis Papastathopoulos, 6 - Looked a little more comfortable in Arsenal's high line but the organisation for the two Cardiff goals was not good enough.
Jamie Redknapp has claimed that Granit Xhaka struggles to produce energetic performances for Arsenal in midfield.