The Russian could still play some part for the Gunners next season, while the boss confirms that Nicklas Bendtner, Sebatien Squillaci and Chu-Young Park will be "on their way".
The 31 year-old forward spent the second half of last season on-loan at former club Zenit St Petersburg, having been heavily criticized by a section of Gunners supporters.
Additionallly, the Russia captain had been expected to leave the club this summer, to create funds for further arrivals after the signings of Lukas Podolski and Olivier Giroud.
Nevertheless, Wenger has not ruled out keeping Arshavin, a 15m pound signing in Jan. 2009, at the club, despite him not being included on the club's tour of the Far East.
"Arshavin, it depends. We have to sit together and have talks. He could still have a future at the club," said
Wenger in the Daily Mail.
However, other bit-part players have been deemed surplus to requirements, most notably French defender Sebastien Squillaci and South Korean forward Chu-Young Park, both of whom have failed to impress since arriving from Sevilla and Monaco respectively, while the Danish international striker Nicklas Bendtner, who spent last season on loan at Sunderland, is also available for transfer.
"Bendtner, Squillaci and Park will be on their way to go somewhere," added Wenger.