It is understood the new £8million-a-year deal has already been agreed and Arsenal plan to announce it this week.
MirrorSport revealed on April 23 that Wenger had finally decided to sign - and that he will get a transfer kitty to strengthen the squad this summer.
But the FA Cup success has made it a lot easier for them to announce with fans happy that they have reached the top four and won their first trophy in nine years.
The FA Cup hero says the Gunners have already proved they can be contenders – and winning a first trophy in nine years will boost confidence even more.
"Now we’ve finally won something, hopefully it will push us on and we’ll win a lot more things," the Welshman insisted.
Monday's Arsenal stories from other newspapers and websites
He will be given the biggest transfer budget in Arsenal history to help him win the Premier League title for the first time since 2004.
Bayern Munich’s Mario Mandzukic and Real Madrid’s Karim Benzema are among the Frenchman's top striker targets.
Bayer Leverkusen’s Lars Bender and Southampton’s Morgan Schneiderlin are midfielders who have been watched extensively by the Gunners scouts, while Toulouse’s Serge Aurier, Southampton’s Calum Chambers and Manchester City’s Micah Richards are right-back options should Bacary Sagna depart.
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Pastures new: Could Milner make the move to north London?
The Gunners are also being linked with Manchester City midfielder James Milner.
According to the Metro, the England man could be tempted to leave the Etihad in search of regular football, and Arsenal could be an option.
Everton and Spurs are the other clubs reportedly in the running for Milner's signature.
'The world needs more Canada. NATO needs more Canada. We need you. We need you' Text of U.S. President Barack Obama's speech to the Canadian Parliament, June 29, 2016, as released by the White House:
Algerian club Entente Setif have been kicked out of the African Champions League after fan violence caused their opening game of the group phase to be abandoned last weekend.
Eddie Murphy, an American comedian, actor, writer, singer, and producer is taken by Box-office to make him the 5th-highest grossing actor in the U.S. Eddie Murphy arrives at "Movies Rock: A Celebration of Music in Film," at the Kodak Theater in Los Angeles, Sunday, Dec. 2, 2007. (AP Photo/Chris Pizzello) Eddie Murphy He was a regular cast member on “Saturday Night Live’’ and worked as a stand-up comedian. Murphy was ranked #10 on Comedy Central’s list of the 100 Greatest Stand-ups of All Time. The Hollywood actor Eddie Murphy is set to star in his first film after a five-year break. The movie was directed by Bruce Beresford and also features Britt Robertson.
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