Walcott’s future has been a source of constant speculation in recent months, with the 23-year-old’s current contract set to expire in the summer.
“We are talking,” Wenger told a news conference on Thursday.
“It is very difficult to be predictable in these kinds of situations but our desire is there to do it as quickly as possible and [we are] ready to do it.
“Our priority is to keep players at the club. We want to keep him here. I’m convinced it will have a positive effect on the rest of the team if we sign him.”
Walcott has scored 14 goals for the Gunners in all competitions this season and has been granted his wish to be deployed as a centre-forward in recent games, including the 7-3 win over Newcastle in which the England international hit a superb hat-trick.
The former Southampton player is understood to have turned down a contract offer from Arsenal worth £75,000-a-week in the summer.
Liverpool, Chelsea and Juventus are among the clubs said to be interested in snapping up Walcott should he fail to agree a new Gunners deal.
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