That circuit will get you a reading, but you can do better. The classical way to measure with a RTD is to set up a Wheatstone bridge rather than a voltage divider:
Also you would be better of with low drift, low noise instrumentation op amps such as the ones recommended here:
There are also custom chips like MAX6603, MAX31865, and ADS1247. The last one is the only one I would back myself to be able to solder by hand.
One other thing: make sure the ADC has a well-filtered power supply. If using a linear regulator like a 7805, ferrite beads on both the input and output of the regulator will help filter high frequency noise. If using the Arduino analogue pins, it's a good idea to put a ferrite bead or small inductor on the line to the reference voltage.