The Frenchman continues to see his future in the Gunners dugout called into question, despite overseeing numerous successes over the course of a 20-year reign.
He has faced accusations from a disgruntled fan base of losing touch with the modern game, with there a stubborn refusal on his part to change his ways.
Wenger, though, maintains that he is capable of adapting his methods and that his commitment to his current post has never waned.
Sagna, who spent seven years at Arsenal before linking up with Manchester City in 2014, believes his fellow countryman remains one of the best in the business and a manager that the Gunners should be doing all they can to keep.
He told The Sun: “For me, Wenger’s a top manager, up there with Ferguson, right at the top.
“I see him fighting to carry on because the club is his life, he loves the club. I’ve been there with him at Arsenal and I see the way he is hurting at the minute.
“But in my opinion he is Arsenal, he has made Arsenal.
“Look at what he has achieved. They have to remember — as I will remember every day of my life — what he has done for the club and for me.
“Of course I would like him to stay. I can't imagine Arsenal without him.”
Sagna added: “He's respected in football for what he has done.
“The players are still by his side and everyone stands for him. He's very human with everyone, very understanding and it shows with what he wants to bring to football.”
Wenger will come face-to-face with Sagna on Sunday when Arsenal return to Premier League action after the international break with a home date against fellow top-four hopefuls City.