The Gunners are currently eighth in the table with 16 points from 11 matches, 11 points behind leaders Manchester United.
"I feel, yes, of course [we are in the title race]. Why not?" he told Arsenal's official website.
Wenger admitted that Arsenal need to tighten up their defence after watching the Gunners concede three goals against Fulham in their 3-3 draw at the Emirates on Saturday.
"We have only lost one game at home, and on two set pieces, until now," said the Frenchman.
"So I think Saturday was a little bit of a special day, but I believe we can defensively do much better.
Arsenal finished third in the Premier League last season.