Hleb claims Wenger is still the right man to lead the club.
"He's a fantastic manager and every year he does a brilliant job," he told talkSPORT. "It's difficult when your best players move to another club. There are not many people who can do a better job than Arsene Wenger.
"Of course everybody wants to see Arsenal at the top of the Premier League, or as a Champions League winner, but it is not that easy. I'm just hoping that Arsene Wenger gets given time to change things at Arsenal and everybody supports him.
"He needs to time. There are a lot of young players who have played well but need work more on their game.
"I'm a big fan of Arsene Wenger. Fans must believe in him. Sometimes it difficult [not to be frustrated] but in football things chance quickly, today everyone thinks the situation is not good but in the future everything can change."