Carlos Vela has signed a new long-term deal with Arsenal.
Wenger said: "We're delighted that Carlos Vela has signed a new long-term contract with the club.
"Carlos is a fantastic talent and we have already seen glimpses of this during his performances."
The Frenchman continued: "Let's remember, he is still only 20 years old, so there is still a huge amount to come from this boy.
"We have invested a lot of time in Carlos, as we put him in Spain for two years to get some good experience.
"Now he's back with us, we're working hard with him every day and he is a very exciting player.
"We're looking forward to seeing Carlos score many goals in an Arsenal shirt for a long time to come."
Vela said: "I'm very happy to sign a new contract and I'm very excited to be spending more years with Arsenal Football Club.
"I just want to work hard and help this great club win trophies. I want to stay here for a long time and it's a great responsibility. I will keep working hard to show the boss and all the fans why I'm here."