The 23-year-old has made over 200 appearances for the north London club since his transfer from Southampton in 2006, but has yet to win a trophy during his time at the Emirates Stadium.
Wenger has borne the brunt of criticism over Arsenal’s trophy drought, and now Walcott believes it is time for the players to take responsibility and repay the French manager’s belief in them by finally picking up some silverware.
"The boss has always had so much belief in me from a young age," Walcott told the club’s official magazine. "But we haven't won anything for a long time now, so we want to pay him back by winning something.”
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"If we don't perform he always takes it back on himself, but at times it is not fair because we are the players that go out there and do it.
"He definitely lets us know when we are not performing, though, which is the right way to do it."
Walcott also praised the resolve of the Arsenal team, and lauded the number of match-winners the Gunners now possess.
"When your team is playing well it makes your job easier and when you are winning games it is fantastic to be a part of it," Walcott continued.
"However, it is when things aren't going too well that you need to stand out and get your team back involved.
"We have got players in the dressing room who can create something out of nothing, and I want to be part of that backbone."