Wenger has come under-fire after a poor run of form which has seen the Gunners lose four of their last five games.
Arsenal supporters have been vocal about their split feelings towards Wenger, with two rival planes being flown over West Brom’s stadium last weekend.
Arsenal fans display banners calling for Arsene Wenger's exit
Sat, March 18, 2017
Arsenal fans raised banners calling for Arsene Wenger's exit after the Gunners lost 3-1 to West Bromwich Albion
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Arsenal fans raised banners calling for Arsene Wenger's exit at The Hawthorns
Wenger has said a decision will be made public soon.
And Monreal feels the uncertainty over Wenger is effecting the players after the club offered the boss a renewed deal.
Arsenal boss Arsene Wenger
"We are not going through a good time, at all levels," the Spain international explained to Goal.
"We have lost four of the last five Premier League matches, we have left the European places, which today is our goal, we were eliminated from the Champions League, and then there is all the controversy with the manager.
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"With fans who are unhappy with Wenger. And at the end, everything affects the players. It inevitably influences at all levels.
Some Arsenal fans want Arsene Wenger to leave
"Well, it's a complicated time. There is a section of the fanbase that is against the coach.
"Just a part of them, because it is not everybody. I think most of the fans are with him and support him. But there is a small part of the fans that does not agree, and are those who protest.
"We, the players, are with Wenger. He has the final word and he will decide whether to continue or not, because I understand that the club has made a renewal offer. So what he does will be the best thing for him and for Arsenal, for sure."