During the summer, a number of clubs were interested in signing the forward but the 31-year-old eventually remained at the Emirates Stadium.
Giroud is yet to start a Premier League game this season - with his four goals all coming from the bench - but Wenger has claimed that he does not see the frontman as backup to Alexandre Lacazette.
The Frenchman told reporters: "No, he's not a sub for me. He's a very good player. I have plenty of good strikers. I cannot play them all together.
"I speak to all my players. It's very hard to discuss what we speak about openly. You know enough already, you know? He's a very important player.
"I have great respect. I am a great admirer of Giroud. Look how many French caps he has won here. He has not wasted his time."
Giroud has suggested that he is open to a loan move in January in order to improve his chances of making France's World Cup squad.