The Portuguese says that the supporters complain about the Gunners' lack of trophies since 2005 because the Frenchman has made them accustomed to winning silverware.
"He has raised the expectations by being a winner in the past," The Mirror quotes Villas-Boas as saying.
"What people expect from Arsenal and what Arsenal fans expect is seeing trophies and seeing them back where Wenger put them in the past.
"Certainly he might be paying the price for the expectations that he arose. But I think he continues to be one of the greatest managers of all time and continues to have success."
Villas-Boas then hailed Wenger as one of the best managers in the world and said that Arsenal could suffer if he leaves.
"It's the nature of humans," said the 35-year-old. "When you are in one place you always are willing for a change or prepared to change to something positive.
"When change happens you see what you were missing at first.
"I don't know if that will be the case or not, I certainly feel he has delivered what Arsenal want for the last years and continues to be one of the great managers."
Arsenal will host Tottenham in the Premier League on Saturday.