Spanish midfielder Cazorla has been impressive since joining from Malaga in the summer whilst Jenkinson has deputised well for Bacary Sagna at right-back whilst Gibbs has made the left-back position his own since the departure of Gael Clichy to Manchester City last year.
"We are over the moon with Santi. He is not only an exceptional player, but a great person.," said Wenger ahead of tomorrow night's Champions League clash with Olympiakos.
"Last year we had a problem with injuries. Now Carl is growing in every game. He [Gibbs] has found stability in his performances. I am very happy with his performances."