The Gunners were 2-1 winners against Leicester City at the Emirates Stadium in their most-recent Premier League game.
Wenger’s side are two points behind Claudio Ranieri’s pace-setters despite their win but four points clear of fourth-placed City.
The north Londoners make the trip to bitter rivals Manchester United in the Premier League on Sunday afternoon after a disappointing 2-0 defeat by Barcelona in the Champions League.
Former Arsenal defender Winterburn is tipping Leicester and Man City to remain in the title race with the Gunners until the final games.
“Leicester because they’re still top and haven’t got any other distractions with regards to a European competition,” Play With A Legend ambassador Winterburn said.
“Manchester City will still be there, although they’re a few points adrift.”
Arsenal are hoping to win their first Premier League title since 2004.
The north London side are facing a tricky few weeks in all competitions.
Arsenal face United this weekend followed by a home game against Swansea City.
Arsene Wenger’s side make the trip to derby rivals Tottenham Hotspur on 5 March before their FA Cup fifth-round replay at Hull City.
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