Arshavin has made just seven appearances in the Premier League this season, the last of which came in January, and the Russian playmaker is widely expected to leave the Emirates at the end of the season.
However, despite his lack of playing time, Wenger has revealed that the 31-year-old has always displayed his commitment in training, with his boss describing him as an "example to everybody".
The Frenchman told reporters: "He is an example to everybody. I must say that publicly I would like to give him credit, because he is working absolutely every session at 100% commitment.
"He has been questioned about his commitment many times. If you saw him every day you would respect him for what he is doing on a daily basis. It is absolutely fantastic."
Reports this week have indicated that Arshavin could retire from football in the summer.