The Russian playmaker has set the Premier League alight since arriving from Zenit St. Petersburg for £15 million on the final day of the January transfer window, bagging six goals and seven assists in his first 12 league appearances last season.
And after netting his fourth of the current campaign in Sunday's 6-2 humping of Blackburn Rovers at the Emirates Stadium, Wenger confessed his love for the diminutive forward.
"I love Arshavin because he has things that are just down to him," he said.
"He is an intelligent player and he looks like he is a shrewd street player because he creates something always in an unexpected situation.
"He has a big challenge in front of him. He made St Petersburg win and, if he makes Arsenal win, he'll become an all-time great.
And the Frenchman believes it is Arshavin's approach to the game that can take him all the way to the top.
"He's a leader and a character. He has something specific to him that he uses well, a low centre of gravity, great pace and tricky dribble," he said.
"He uses all that he has in the locker in an intelligent way - and don't forget he is a winner as well."
