The indie rockers knocked Lady GaGa's worldwide best-seller Born This Way from pole position to become only the second band in history to debut atop the rankings four times in a row.
Official Charts Company managing director Martin Talbot said: "With the Arctic Monkeys cementing their place in the history books so soon after Adele's phenomenal run at Official Albums Chart number one, British talent is clearly in very good health indeed."
Keane were first to win four consecutive chart-topping records between 2005 and 2010, while George Michael and Boyzone equal the feat when compilation discs are taken into account.
Elsewhere, 11-year-old America's Got Talent star Jackie Evancho lands at four with debut album Dream With Me, as the Glee cast return to the Top 10 with their sixth soundtrack LP, a new entry at six.
Louis Walsh's latest girlband Wonderland also manage a respectable debut with their self-titled album at eight, landing just a few spots above folk-punk singer Frank Turner's newest release England Keep My Bones at 12.
By contrast, The Pierces and Aloe Blacc are ejected from the Top 10 after slipping nine and seven places respectively with You & I and Good Things, this Sunday's 13 and 15.
Finally, Iron Maiden compilation From Fear To Eternity and All Time Low's Dirty Work snag the final spots in the top 20 on their first week of release, while Nicole Scherzinger sees her debut solo album Killer Love ascend 13 places to 22 following her appointment to the X Factor USA panel.
The Top 10 in full:
1. (-) Arctic Monkeys: 'Suck It And See'
2. (2) Adele: '21'
3. (1) Lady GaGa: 'Born This Way'
4. (-) Jackie Evancho: 'Dream With Me'
5. (3) Adele: '19'
6. (-) Glee Cast: 'Glee The Music - Vol 6'
7. (6) Seasick Steve: 'You Can't Teach An Old Dog New Tricks'
8. (-) Wonderland: 'Wonderland'
9. (5) Jessie J: 'Who You Are'
10. (7) Bruno Mars: 'Doo Wops & Hooligans'
Source:Official Chart Company
> This week's singles chart
Watch a performance of 'The Hellcat Spangled Shalalala' from Arctic Monkeys' number one album Suck It And See below:
View the latest Official Top 100 Album Chart
Source: Official Charts Company