Walcott indecision leaves Wenger frustrated
The 23-year-old striker, Arsenal's top scorer this season with 10 goals, is in the final six months of his contract.
"He knows what I want and he has to make up his mind," Wenger told reporters ahead of Saturday's match against West Bromwich Albion at Emirates Stadium.
"We have not made any progress. I have no news, I am frustrated. We are in negotiation for a long, long time. We have not been late in re-negotiation with him. We always try to extend contracts very early."
England international Walcott told Reuters in September he wanted to stay at Arsenal and that if it had been about money he would have gone in the close season.
This season, after the departure of Robin van Persie to rivals Manchester United, Walcott has expressed a desire to play as a striker rather than in the wide role he has traditionally occupied for Arsenal.