Diaby's deal expires at the end of the season and injuries have limited his opportunitites to impress, with Saturday's trip to Stoke City the latest game he will miss.
The 28-year-old made just one appearance last term - a figure he has matched so far in this campaign - as a combination of knee and calf injuries have kept him in the treatment room.
He said: "Abou Diaby is on the brink of returning to training. If he's fully fit, he'll have a new deal."
Offering an update on his lengthy injury list on Friday, Wenger added: "Theo Walcott has an injection today, so he will not play. Galatasaray is also too early for him in midweek.
"Nacho Monreal is out. Hopefully Kieran Gibbs will be back.
"Wojciech Szczesny should be in full training today. Matthew Debuchy is also back in training, but it's too early for him."
