The former Barcelona star has been a revelation since moving to the Premier League and, having been struggling with a hamstring injury, was sorely missed as Wenger's side were defeated by Spurs in Saturday's match at White Hart Lane.
Alexis is expected to feature from the start in Tuesday night's Premier League meeting with Leicester City and the Arsenal boss believes that he will return fully invigorated and injury-free for the remainder of the campaign.
The Frenchman told reporters: "It was difficult for him not to play [at Tottenham]. If it was the last game of the season he would have played.
"He has had a bit of a winter break now - one that he didn't really want but he got one - and I think he will now be recovered and fit until the end of the season.
"For us it is important that he has no setback as, once you go into February, if you have a muscular injury and a guy has a setback, you say 'bye bye' as the season is over as it is six weeks out.
"By the time you come back to your full level it is April and that is why we didn't take the gamble [by playing him at Tottenham]."
Wenger also compared the summer signing to a former Arsenal great, adding: "Ian Wright ... he is a bit like Ian Wright. He has the enthusiasm of Ian Wright. He is quieter than him but that is not difficult and he doesn't get booked!
"Alexis is more with the Spanish players of course but he is loved by everybody. He is very friendly and bubbly every day."