The Frenchman claims that it is "unfair" on clubs that have to play the likes of Newcastle United, who have already acquired three new players in the winter market, in the second half of the season.
"I think it should be completely cut out or limited to two players because it is unfair for the league that some teams have played," Wenger said in a press conference.
"For example, Newcastle already and then some teams have to face Newcastle still with six or eight new players.
"They do not face exactly the same team. I believe the number of players you can buy should be limited."
Meanwhile, Wenger has also refuted rumours that he is to become Schalke's manager.