Benayoun is currently on loan at the Emirates Stadium from parent club Chelsea but Wenger insists that a deal depends on what else Arsenal do in the summer.
"We have to look at the situation in a global way because we have many players out on loan so we need to deal with these situations," said Wenger.
"We have to say that in the games he started he did extremely well and the team did extremely well as well. That is never a coincidence. So we have a good balance in the team with him and a good focus. And of course he has quality, Yossi."
The Israeli captain has made 21 appearances in all competitions for the Gunners this season, scoring three goals.