The 25-year-old, who has struggled with injuries in recent seasons, will miss the start of the new campaign as he recovers from a leg fracture, and it remains to be seen where he will play his football.
Wilshere spent last season on loan at Bournemouth but, despite remaining fit, he failed to make a lasting impression on the south coast and ended the year in and out of Eddie Howe's side.
Wilshere has less than a year left on his current deal and Wenger admits he must have a difficult discussion with the player over where his future lies.
Asked whether he expects Wilshere to stay at Arsenal, Wenger said: "That decision is not completely made, I want him to have a chance to play somewhere as well.
"We have to decide that a bit later. I wanted first him to come back, he is coming out of a fracture. It is the first week he is back in full training and we have to sit down together and see where we go from there.
"Yes (it will be a difficult conversation). I made him start at a very young age. He has gone through difficult times, I want him to have the career he can have and I am quite open on that."
Pushed on whether the time had passed for Wilshere to establish himself as a first-team regular with the Gunners, Wenger added: "It is not passed because he has the talent to be regular, but he has to come back to competition in a consistent way."