The tournament, which showcases the best youth talent from around the world, was won by Inter Milan last season after they defeated Ajax in the final.
Wenger told the club's official website: "We are excited about joining the NextGen Series next season. It's a very good challenge to confront yourselves with the best young players in Europe.
"We have spoken to Inter Milan, who practised at our training ground ahead of a NextGen match, and they said their players improved tremendously through the season because of the quality of the competition.
"You play against the best players of your age and it will be a very interesting experience for us. It's also a good way to assess your players and to give you an idea of the future potential of the club."
The tournament starts up again in August.