The X Factor champion has remained at the top with his winner's single 'Impossible', having shifted a further 76,000 copies since reaching the summit on Sunday (December 16).
The bookies' Christmas number one favourite 'He Ain't Heavy, He's My Brother' by The Justice Collective is trailing by 3,000 copies after the first 24 hours on sale, according to the Official Charts Company.
The track has been released as tribute to the victims of the Hillsborough disaster and features Paul McCartney, Robbie Williams and Melanie C, among others.
"While James Arthur has an early lead over The Justice Collective after just two days of sales, it is exceptionally tight – especially with Christmas gift purchases likely to impact on both releases as the week progresses," said Official Charts Company's managing director Martin Talbot.
"It looks like being an extremely exciting race for this year's Official Christmas number one."
Each release will be donating proceeds to charity with Arthur's single raising money for Together For Short Lives and The Justice Collective for the ongoing legal costs of the families of the Hillsborough disaster.
Watch the music video for The Justice Collective's 'He Ain't Heavy, He's My Brother' below: