The England international returned from a season-long loan at Bournemouth in the summer.
Wilshere was allowed to move to the south coast in order to gain some regular first-team football under Eddie Howe.
The 25-year-old made two assists in 25 games in the Premier League before suffering a serious injury back in April.
Arsene Wenger has largely used Wilshere in Arsenal’s Europa League and League Cup fixtures in the current campaign.
However, the England midfielder started his first Premier League game in a goalless draw at West Ham earlier this month.
Wilshere started his second Premier League fixture in seven days in Arsenal’s 1-0 win against Newcastle United.
The versatile midfielder continued his run in the Arsenal team with a man of the match performance in their 3-3 draw with Liverpool FC at the Emirates Stadium on Friday night.
The Arsenal youth graduate has little over six months remaining on his current contract with the north London club.
Former Chelsea defender Townsend warned Wilshere that finding a bigger club than Arsenal interested in his services would be difficult.
“I don’t think Jack would get a game at anywhere better than Arsenal in one of those forward positions behind the striker,” Townsend told Sky Sports.
Arsenal finished in fifth place in the Premier League table last term.
The Gunners haven’t won the Premier League title since 2003-04.
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