Wenger has signed a new two-year deal with Arsenal despite the club's difficult Premier League campaign.
The Gunners finished a disappointing fifth - meaning they will be without Champions League football next season for the first time in 21 years.
An added embarrassment was finishing behind Mauricio Pochettino's Tottenham, with their north London rivals ending up behind only Chelsea and securing a place in Europe's top club competition for the second season in a row.
Even though Borussia Dortmund parted company with Thomas Tuchel, who was being backed to succeed Wenger, the Frenchman has renewed his contract.
Arsene Wenger's 20 best Arsenal signings ranked Wed, May 31, 2017
With Arsene Wenger set to sign a two-year contract extension at Arsenal, Express Sport ranks his 20 best signings
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Express Sport ranks Arsene Wenger's 20 best Arsenal signings
Arsene Wenger has opened up on Arsenal's summer transfer plans
We will work very hard to find the additions of top, top quality
Arsenal boss Arsene Wenger on the transfer window
Gunners fans are split on the decision, knowing Wenger needs to splash the cash in the transfer market if they are to challenge for major honours next season.
And the 67-year-old has opened up on his summer plans, saying that some players will leave and 'top quality' players will come in.
"First of all, we have a very heavy squad at the moment so maybe we might lose some players," he told the club's official website.
"We want to keep the strength we have and build on that. We will work very hard to find the additions of top, top quality.
Arsenal's transfer plans could involve Monaco striker Kylian Mbappe
"I believe that our squad is very strong and we will only look for top-class people who can strengthen our team now.
"The basis is there so we need the additions who will make a real difference."
Arsenal have been linked with moves for Monaco's Kylian Mbappe and Lyon's Alexandre Lacazette.
And the Gunners have also reportedly agreed a £6.8million fee for Eupen's Henry Onyekuru.