The Poland international was dropped earlier this season after a series of poor performances, notably the Gunners' Champions League game against Bayern Munich, with Lukasz Fabianski played in his place.
However, the shot-stopper has been restored to the first team and was in fine form in Arsenal's 1-0 victory over QPR on Saturday, particularly impressing Wenger with one save from Loic Remy.
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"It shows the importance of a goalkeeper. We needed him once really and he got there. I must say Remy took the shot very well and very early. He needed a special save.
"I felt that first when I saw him dive, I thought he would not get there, but he extended his final resource very well and that got him there."
Wenger also added that Szczesny has returned to the team a better player and was full of praise for the way he has responded to recent setbacks.
"[Competition] is very good for him. You know him as well," he added.
"I must give him credit because in this competition [from Fabianski], he responded very well, worked hard and when he came back, he was sharper when I left him out, from the first game on. He has responded very well.
"That's what you've seen with people like [David] Seaman, with [Jens] Lehmann when I took him out. They always came back stronger. He does that well. He's in good form now."