The England global has been at the north London club since 2011 when he was a teenager, and his boss has revealed that he wants to build the future Arsenal squad around the England worldwide.
Chelsea are front-runners to land Oxlade-Chamberlain having already had a £25million offer for him rejected.
Asked about the winger's future at Arsenal, the Frenchman said in a press conference: "I want to keep my best players. I have only one target - to keep everybody on board", Wenger said. We've invested time and money and confidence on players like Ox and they have a responsibility. He's one of the players the team can be built around, I want him to commit and be one of the carriers of the values of this team.
Arsenal are facing the prospect of having to sell Alex Oxlade-Chamberlain this month.
Oxlade-Chamberlain only started 16 Premier League games last season and is seeking more regular first-team football, preferably in central midfield; he has started both Arsenal's Premier League games this season at wing-back.
While the Gunners appear keen to keep hold of the 24-year-old, they will also be concerned that, along with Alexis Sanchez and Mesut Ozil, he is now in the final year of his contract and thus able to walk away for free next summer.
However, Wenger believes Oxlade-Chamberlain can become a symbol for the club and he intends to repeat his sales pitch when he sits down for talks with the midfielder's representatives.
Wenger had sympathy for the player, given the history of injuries that Wilshere has had to deal with, adding: "I can understand a lot, especially what happened to him. I want him to stay here for a long time".
"I want to keep my best players".
"He is working very hard to come back, another setback for him would be awful". With Chelsea tabling a tempting offer for the player, Wenger could lose the services of the talented Englishman.