The 28-year-old has a year and a half left in his contract with speculations that he will only stay at the Emirates Stadium beyond this season if the club matches his ambition.
Sanchez last month reportedly said he was comfortable in London but wants to play for a club that can challenge for the Premier League title. He has been linked with a number of other clubs, including Chelsea, Manchester United and Paris St Germain.
Speaking ahead of Arsenal’s match against London rivals Crystal Palace on Monday, Wenger expressed optimism the forward will play for the Gunners next season.
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“Basically, he (Sanchez) wants to stay at the club and it’s down to finding an agreement with his agent,” Wenger told reporters on Friday.
“I think the players first have to see are they happy to the club and after (that) most of the time it’s down to finding an agreement, but the finances are involved in it, yes.”
Arsenal last won the Premier League title in 2004 and the pressure on Wenger has intensified this season, with the club often looking as though they will miss out on a top four spot that secures Champions League qualification.
The Gunners are four points behind fourth-placed Manchester City, having played a game less, and six points behind third-placed Liverpool who have played two games more.
“We are in a position that is not comfortable. It is not where we want to be. We know what we need to do,” Wenger said.
“The line of conduct is very clear. We had a hiccup in recent weeks, what is important is to move on.”
The 67-year-old Frenchman is still yet to announce whether he will remain beyond the end of the current campaign.
When asked whether an announcement would come from himself or the club, Wenger simply said: “From the club.”