A recurring ankle injury picked up in pre-season has seen Wilshere miss the entire season and, after last week's defeat against Wigan, Wenger confirmed the player would not be back in time to figure in England's Euro 2012 campaign.
However, Pearce is determined to pick Wilshere for the Olympic tournament, which will clash with Arsenal's pre-season schedule, and reminded Wenger that under FIFA rules he would be powerless to prevent him from doing so.
“We’re in constant contact with Arsenal and we’ll see how this one rides,” said Pearce. “But, will any manager get a veto over who I select? Of course not.
"We would obviously let them know if their players are in contention and the dates they would need to be made available.
“But we’re talking about Great Britain here. The Olympic Games. If you strip it down solely to the players, this is an opportunity of a lifetime.
“Lionel Messi took his club to court because he wanted to play at the Olympics. That’s the best player in the world.
“I wouldn’t want to get into a legal battle, but we’re not talking about taking players away for a whole season. We’re not even asking them to miss a competitive match.”
The potential conflict of interests will not be the first time Wenger and Pearce have clashed.
The pair have previously disagreed over Pearce’s selection of Wilshere and his Arsenal team-mate Theo Walcott for the England Under-21 squad.
Wenger has been quoted recently as saying: “The Olympics would be the worst idea for him [Wilshere].”
However, Pearce has since responded: “That’s his opinion. I can’t change his opinion, and it’s not of great concern to me."