The 22-year-old has been heavily linked with a move to Real Madrid – with Monaco valuing the star at £70m – having lit up the World Cup for Colombia.
Rodriguez scored six goals to win the Golden Boot in Brazil, with Manchester United also thought to be interested, but Wenger believes the forward will “certainly not” move this summer, due to Monaco's qualification for the Champions League.
"I believe that’s true,” Wenger told beIN Sports when asked if Rodriguez is too big for the principality club.
“Why? Because a player like that is difficult to keep at a club when you have Real Madrid and Barcelona looking around, and without a doubt there will be people who will be watching them play and thinking about buying him,
“Is this the year that he will move? Certainly not because he is with Monaco and they will play Champions League next season and they are a big club in France.
“But certainly in the next season or two he will want to move somewhere else.”
Rodriguez, who joined Monaco from Porto in a £60m double deal with Joao Moutinho in 2013, scored 10 goals in all competitions last season.