The Croatia striker is recovering at home from the challenge by Birmingham defender Martin Taylor which ended his season and ruled him out of Euro 2008.
"The first signs are good," Wenger told Sky Sports News. "The first problems that could happen are infections and, on that front, it looks good."
Asked if Eduardo would make a full recovery, Wenger replied: "We think so."
Taylor's challenge provoked a furious post-match response from Wenger who said at the time - "this guy should never play football again" - but the Gunners boss retracted his comments within hours.
Wenger explained: "I am responsible for what I say and I came out and retracted what I said (straight after the match). I didn't want to go overboard."