Arsene Wenger is set to sign a new two-year contract at Arsenal
Wenger has reportedly agreed a new deal to keep him at Arsenal until the end of the 2018/19 season.
The Frenchman was due for a meeting with the Gunners board today and an announcement is expected from the club sometime tomorrow.
The extension to Wenger's contract comes despite yet another disappointing season in both the Premier League and Champions League, where Arsenal finished outside the top four for the first time in 20 years.
They did win the FA Cup with a 2-1 win over Chelsea on Saturday at Wembley but Quinn believes the north London side must be challenging for more prestigious trophies.
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Arsenal have got to move on from Wenger eventually, they have to move on
Micky Quinn on Arsenal boss Arsene Wenger
"They've got to move on from Wenger eventually, they have to move on," the former Newcastle striker said on talkSPORT.
"To me at the moment, I've said all along over the last two or three years, he will not win another Premier League.
"He will not win the Champions League with Arsenal and that is the ultimate goal for Arsenal.
"Yeah they were brilliant against Chelsea, totally outplayed Chelsea, won the FA Cup, silverware, I do not disrespect any silverware in this country.
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Arsene Wenger has been offered a new contract to keep him at Arsenal until 2019
"But surely the ambition is to win another Premier League and challenge, they didn't even challenge this year, didn't even challenge at any stage.
"The elite is the Champions League and they draw Bayern Munich or Barcelona in the last-16 stage every year and it's like groundhog day every year.
"They've eventually got to move on from him. I think now's the time."