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The 67-year-old ended the most difficult season of his career on a high with a 2-1 FA Cup final win against Chelsea last weekend.
Uncertainty over Wenger’s future has dominated headlines from the Emirates this season but the club are now ready to announce he’s staying for a further two years this week.
Despite the agreement, Arsenal’s board want Wenger to make changes to his management style and want the Frenchman to avoid a repeat of last summer’s chaotic transfer window.
The Gunners signed Granit Xhaka and Rob Holding early in the window but waited until the final days to sign Shkodran Mustafi and Lucas Perez.
Many felt Wenger was pressurised into signing the pair after a bad start to the season and the Gunners ended up paying a hefty £34million for Mustafi.
According to the Daily Mail, Wenger had a deal agreed for Gonzalo Higuain in 2013 before abandoning the move for Luis Suarez.
The Gunners ended up signing neither player and signed Mesut Ozil on a deadline day deal for £42m.