The 68-year-old’s decision to leave the north London club was confirmed via a statement on the club’s official website on Friday morning.
Wenger said in the statement on Arsenal’s website: “After careful consideration and following discussions with the club, I feel it is the right time for me to step down at the end of the season.
“I am grateful for having had the privilege to serve the club for so many memorable years.
“I managed the club with full commitment and integrity.
“I want to thank the staff, the players, the Directors and the fans who make this club so special.
“I urge our fans to stand behind the team to finish on a high.
“To all the Arsenal lovers, take care of the values of the club. My love and support for ever.”
The Frenchman has found himself under increasing pressure at The Emirates in recent years following the Gunners’ failure to challenge for the Premier League title.
Arsenal have not won the Premier League title since 2004 and the Gunners currently find themselves in sixth place in the table, and just two points ahead of seventh-placed Burnley.
The Gunners will take on West Ham United in the Premier League on Sunday at The Emirates, before turning their attentions towards the first leg of their crunch Europa League clash against Atletico Madrid on Thursday night.
Arsenal can still qualify for next season’s Champions League by winning the Europa League this term.
Wenger has led Arsenal to three Premier League trophies and seven FA Cups since taking over at the north London club back in 1996.
He has also won the Community Shield seven times with the Gunners, and led Arsenal to the Champions League final back in 2006.
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