Sanchez has taken England by storm, scoring 14 goals in all competitions since snubbing rivals Liverpool for Arsenal after the World Cup in Brazil.
Nine of Sanchez's goals have come in the Premier League, with back-to-back braces against Sunderland and Burnley part of that tally.
With the Chile international's form singlehandedly keeping Arsenal in the race for UEFA Champions League qualification ahead of Sunday's trip to Anfield, Wenger feels his prized asset can be an award winner at the end of the season.
"In England he would certainly be very high [in the Footballer of the Year running]," Wenger is quoted as telling Arsenal's official website.
"He has less stature to play centrally but even centrally he can be an interesting option even though the physical part doesn't work, because he is more mobile.
"When I played football I played at the back. I was a tall guy but I didn't like to play against a smaller guy who is very mobile and turns very quickly, so sometimes [Alexis] can be a different solution [centrally]."
