Wenger is hoping Campbell will sign a new deal.
"Sol is a player who's give us a lot since he has come back," said the Arsenal manager of the man who led his Invincibles side of 2003/04.
"He has been very positive on the pitch and off the pitch, so we will have to keep some experience in the dressing room."
Campbell has not given up hope of an England recall, with manager Fabio Capello set to name his provisional 30-man World Cup squad tomorrow.
Wenger said: "He [Capello] has already made the list and [Theo] Walcott is on the list. He did not give me any indication on Sol."