Sanchez's future has been in the balance since the window opened for business, having been allowed to enter the final 12 months of his contract.
Wenger revealed to the assembled press on Friday that he has held "positive" talks with last season's top scorer, however, leading to suggestions that he would remain in place this summer.
The Frenchman has made clear that Sanchez has not agreed to extend his terms in North London just yet, admitting that he is unsure exactly what the future holds, but he was more confident when asked about his plans to keep Liverpool-linked wing-back Alex Oxlade-Chamberlain.
"No, a lot that comes out [about] Sanchez does not look completely right! No, that is not the case," he told reporters.
"Oxlade-Chamberlain? Yes, 100% I expect him to stay. There is no speculation - no matter what happens he will stay."