Diaby has suffered a torrid time with injuries in recent years, being restricted to just four Premier League appearances last season.
However, the 26-year-old was named as man of the match in Arsenal's 2-0 win over Liverpool yesterday, and Wenger believes that the midfielder has all the attributes to be a great player.
"If he is fit and healthy, Diaby has the talent. You can see he is massive for us because he has everything you would want in a midfielder," said Wenger.
"I stood behind him because I know he is not only a fantastic player but a fantastic guy as well. He hasn't played for a year but now he looks in good shape.
"There is more to come but let's touch wood and hope it goes well in the next two or three weeks because he is going away with the national team. He will travel a lot and play two games in four days."
Diaby's national team duties with France will see him face Finland and Belarus.