The Gunners are without a trophy in eight years, but their rise to the top of the league has caused optimism around the club.
"We have a huge ambition to win this league again and that is the target of the season," Wenger told Arsenal's AGM.
"Our policy is based on three different levels and we want to continue with that success.
"I am quite happy we have shown to you that we are not scared to spend money when we think players have the quality and we have the funds available to do it."
Arsenal's next game is against Norwich City this weekend.