The 19-year old midfielder has not made an appearance for the Gunners this season after sustaining the injury in the summer and then succumbing to an operation in September and Wenger says he should be back by the start of February at the latest.
"He is progressing like somebody who has just had surgery. He's progressing very well," said the Frenchman.
"We have to assess him again in two or three weeks. He is working very hard at the moment.
"It's too early to say [a possible return date]. But a target could be the beginning of 2012.
"When I say that I mean the end of January or February - something like that."