Wenger could manage Arsenal for the final time tomorrow at Wembley with talks on his future scheduled for Monday.
The Frenchman has spent 21 years with Arsenal but faced arguably his most challenging year.
The Gunners crashed out of the Champions League to Bayern Munich 10-2 on aggregate, then failed to qualify for next season's competition due to their fifth place finish.
But ahead of tomorrow's final, Conte has defended his managerial rival and tipped Wenger to stay at the Emirates.
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Antonio Conte and Arsene Wenger go head-to-head at Wembley tomorrow
I don’t think tomorrow will be the last game for Arsenal. He deserves to be working for Arsenal
He said: "I know very well Arsene Wenger has done well in the FA Cup and won many trophies. I have never won this trophy and tomorrow is a good possibility for me and my team to win the trophy.
"But I don’t think tomorrow will be the last game for Arsenal. He deserves to be working for Arsenal.
"He has done a fantastic job, only this season they haven’t qualified in the Champions League.
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Antonio Conte has expressed his admiration for Arsene Wenger
"Sometimes in England I think you under-value the achievement of qualifying for the Champions League. It is a good target."
Conte revealed he has a fully fit squad to choose from, which means he will face a decision between Cesc Fabregas and Nemanja Matic in central midfield.
He said: "All the players are available, I have to make the best decision for the team but all the players are fit and this is good news for us."