The 19-year-old still has four years left on his current contract with the Gunners.
But The Sun reports that Arsenal are ready to start talks over a new deal for the youngster later this month.
Wenger has seen the likes of Robin van Persie, Cesc Fabregas and Samir Nasri leave the club in recent seasons and is desperate to keep his best players on long-term deals.
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Being an amiable guy is good for you and Jurgen Klopp is living proof.
Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.