The injury-troubled 25-year-old has started just one Premier League game for the Gunners since the start of the 2015-16 season.
However, Wilshere completed 90 minutes in Arsenal's 1-0 EFL Cup win over Doncaster Rovers on Wednesday night, and Nicholas believes that things are looking up for the England midfielder.
The Scot told Sky Sports News: "For the first time in a long time I think the signs are swaying towards him getting first-team football again and earning a role in Arsene Wenger's squad.
"He won't start against West Brom [on Monday] and it will probably take him a lot of time to get over his first 90 minutes, when he was probably man-of-the-match, but if if they can get 2-0 up then the crowd would certainly love to see him get 20 minutes.
"Then on Thursday night, against BATE Borisov, I'm looking at him getting another 90, so he's on the right track. A lot of people have said he won't get into the team because of Mesut Ozil but he doesn't necessarily have to play there, but he'll get opportunities in the Europa League and the Carabao Cup."
Wilshere, who spent most of last season on loan at Bournemouth, is one of seven players due to see their current terms expire at the end of the campaign.