The Electrocardiogram (ECG) serves as a crucial indicator of diverse cardiac conditions, emphasizing the importance of precise signal classification for automated arrhythmia detection. ECG is an efficient tool for the diagnosis and detection of arrhythmia. Detecting arrhythmias in extended ECG segments can result in episodes being overlooked. However, since ECG transmits a massive amount of information, it becomes very complex and challenging to extract the relevant information from visual analysis. To overcome this problem, this research proposes Long Short-Term Memory (LSTM) with Luong Attention Mechanism approach for the classification of arrhythmia from ECG into 5 classes. When LSTM is combined with Luong attention, they can learn which parts of the ECG signal are crucial at each time step, and effectively capturing both short-term and long-term dependencies. For evaluating the performance of the proposed method, the data is collected from a benchmark dataset called the MIT-BIH dataset. After the collection of the dataset, the pre-processing is done using Continuous Wavelet Transform (CWT) to reduce the low and high-frequency noise. After that, the pre-processed data is forwarded to the feature extraction process to extract the relevant features by using the statistical (Skewness, Kurtosis, Moment, etc.) and time-frequency domain features. Finally, the LSTM is used to classify the arrhythmia classes. From this analysis, the proposed LSTM with Luong Attention Mechanism achieved better results in overall metrics. The proposed method achieves the accuracy of 99.75% which is comparatively higher than the existing approaches like Deep Residual Convolutional Neural Network (DRCNN) and Depth wise Separable CNN with Focal Loss (DSC-FL-CNN).