Kallstrom has not featured since signing for the Gunners on the final day of the January transfer window, having arrived in north London with damaged vertebrae in his back.
But the Swede is back in full training following the injury, and Wenger says he will assess the 31-year-old before making a decision on whether to include him in his squad to face Spurs.
|9/1||Arsenal are 9/1 with Bet365 to beat Tottenham 2-1|
Wenger also confirmed, as revealed by Goal earlier on Thursday, that Aaron Ramsey will miss the north London derby clash.
He added: "We have had to defer his comeback to full training a little so he is not available. He is having difficulties in the final stages of his rehab. It looks to be short-term."
Mesut Ozil, meanwhile, who was substituted with a hamstring injury at half-time during Arsenal's 1-1 draw with Bayern Munich on Tuesday, has no set date for his return.
Wenger continued: "[Ozil] is out. I don’t know for how long but it is a hamstring injury. There are scans going on."
Finally, the Gunners boss revealed he is optimistic that both Kieran Gibbs and Nacho Monreal will be fit for the north London derby, easing his concerns at left-back.
"Kieran Gibbs has a test tomorrow but I am hopeful that Nacho Monreal will be fit," he confirmed. "They both have a good chance."