The Gunners clawed a goal back to earn a 2-2 draw away at Tottenham on Saturday, while Leicester defeated Watford thanks to Riyad Mahrez's 15th goal of the season to move five points clear at the top.
But the Arsenal boss is not giving up hope of ending a 12-year wait for the title, pointing to his side's record against the table-toppers as proof that they can come out on top.
"The championship is far from over," Wenger said ahead of the FA Cup replay with Hull City.
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"We have beaten twice Leicester. People have to look at the other teams. We will not give up in the championship. We will fight until the end."
Next up for Wenger and Arsenal is their FA Cup fifth-round replay against Championship side Hull as the Gunners begin a run of four games in 11 days, which includes a trip to Barcelona in the Champions League.
“I will have to make [changes]," Wenger said. "I'm not concerned by replacing one player for another. I have to rotate a bit and keep the balance in the team.
He added: "We lose [suspended Francis] Coquelin of course. Everybody else looks medically available.
"I have to see how everyone has recovered. We should have the same squad from Tottenham, plus Iwobi."