The Frenchman will be under pressure to challenge for the Premier League title in 2017-18, while keeping the Gunners in the running for domestic cup success.
He will also oversee a Europa League campaign, having finished outside of the top four for the first time in his 21-year reign in north London.
Those struggles led to calls for him to be removed from his post, but Wenger has committed to a two-year contract extension and will be given the opportunity to build for the future.
He has, however, suggested that it will be a case of evolution rather than revolution at Emirates Stadium, telling BeIN Sports when pressed on how many additions he expects to make: “Between a maximum of two or three.
“We cannot spend as much as many other clubs because some clubs have external resources that allow them to be basically unlimited.
“We can spend money because we have managed the club well. Let’s not forget the amount of money spent is not a guarantee of success.
“We have to be clear what we understand as a big signing. Is [Rob] Holding a big signing for you or not?
“When you buy a player for £40m, everybody will have at the start a positive judgement. When you buy him for £2m, he can’t be good?
“That means a big signing is not necessarily linked with the amount of money spent.”
Wenger has become renowned for his frugal approach to player recruitment throughout his time at Arsenal.
His hands were tied somewhat following a move from Highbury to the Emirates, but there has been no elaborate spending in recent years despite the Gunners being more financially stable.