Despite insisting that the current Arsenal squad is capable of winning the Premier League title, Wilson believes that a "marquee signing" would see them mount a serious challenge.
"There are only certain clubs who can win it," he told Sky Sports News. "I wouldn't put Arsenal top of my list, but they do have a really, really good squad at the moment.
"What I would love to see - and what I believe every Arsenal fan would love to see - is one marquee signing this summer which would put us very close to challenging."
Arsenal start the new campaign on Saturday when they welcome Aston Villa to the Emirates Stadium.