With a record of 25 goals in 24 games this term, the Gunners boss has revealed his interest in the Napoli star, while his faith that Theo Walcott with sign an extension has grown
The Uruguyan international has notched 16 goals in just 17 Serie A appearances so far this season, and has added a further nine in seven domestic and European cup games to take his tally to 25 goals in 24 outings.
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Manchester City assistant Angelo Gregucci has previously revealed the Premier League champions' interest in Cavani, but this marks Wenger's first public acknowledgement of the forward.
"Cavani is a player that I like. What is for sure is that he costs a lot of money," Wenger told reporters.
Wenger also claimed last Friday that Theo Walcott's ongoing contract dispute was heading towards a "happy conclusion", with Goal.com revealing a new four-and-half-year £90,000-a-week deal has been agreed.
And the Arsenal manager stepped up his certainty of a contract extension being signed by the England international on Thursday by adding: "My optimism [regarding Walcott's new deal] is at 99 per cent now."
Reports have suggested that the England international was after a clause in his contract guaranteeing him more chances to play as the central striker, after being used mainly as a winger during his time with Arsenal, but Wenger has denied those claims.