Wenger insists Arshavin still has a lot to offer the north London club and is convinced the diminutive playmaker will prove his critics wrong in the next few months.
Wenger said: "You would not be surprised that I disagree with that [George Graham's comments]. That is his opinion. I think he has been great for us and he will still be great in the coming months.
"He is a great player and you have to give him credit for that. He stands up for his performances. I personally respect him highly and I think he's a great player.
"I like Andrey because he has a great attitude. It was a difficult game for him on Wednesday and for all the players who played up front because Marseille defended, they played for a point.
"There was not a lot of space for the strikers and as long as you don't find an opening they will not come out, and that is what happened in the game."