Although Wenger can see the comparisons off the pitch, he insists that Oxlade-Chamberlain and Walcott operate very differently on it.
"They are quite similar types of players but Walcott is a bit more a striker and Oxlade-Chamberlain is more a midfielder," Wenger told Arsenal.com.
"He [Oxlade-Chamberlain] likes more to be in the build-up of things and Walcott is more a guy who makes intelligent runs.
"So they are not that similar as players but they have some similarities physically already. They look the same size, the same type of player.
"But I believe that Oxlade-Chamberlain could be a central midfielder one day and Walcott a central striker one day. That shows the difference between the two players.
"I don't know [if the comparisons are fair] but you can't stop that."