The club strengthened heavily in the summer after the departure of leading man Robin van Persie, bringing in Lukas Podolski, Olivier Giroud and Santi Cazorla, but Wenger is still keen to sort out a fresh deal for Walcott after his recent form in front of goal.
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The England international struck a fabulous hat-trick in Arsenal's 7-5 Capital One Cup victory against Reading and Wenger lauded Walcott's ability to play as a striker, an issue seen as a stumbling block towards any progress over talks involving a new deal.
He added: "I always said he will be striker. He's a good finisher now. He knows where to be on the rebounds.
"That is the quality of a striker you can’t give to someone, they either have it or they don't."