The Welsh midfielder has caught the eye so far this season, with impressive performances against Fenerbahce and Fulham.
Wenger insisted that the club still believe in Ramsey's ability, despite the scrutiny he was under throughout last season.
"Ramsey is a young player and year ago, he was highly under scrutiny," Wenger told reporters. "People had major doubts, but I think he deserves huge credit for having moved forward the way he did.
"We deserve some as well because we continued to develop him and believe in him and all the players we have here. We have good quality at this club, do not forget that.
"During the transfer period, people are so much focused on who is coming in that they forget how good our players are."
Ramsey joined Arsenal from Cardiff City in 2008.