The Gunners have also tied England youngsters Benik Afobe and Chuks Aneke to long-term deals, along with Dutch youth international midfielder Oguzhan Ozyakup.
While Arsenal fans will be expecting some big-name signings over the summer, Wenger has again kept one eye on the next with the charm of Jenkinson.
Afobe showed good work during his loan spell at Huddersfield Town last season, scoring eight goals as the Terriers reached the League One play-off final, while England Under-18 internationals Aneke and Ozyakup impressed for Arsenal's second string.
However, after another season failing to return as Arsenal's quest for honours quickly fell apart following defeat in the Carling Cup final to Birmingham City, Wenger is set to work in some experience.
Liam Brady, the Gunners' head of youth development, maintains the north-London club will soon concluded on their transfer targets.
"There will be a lot of job done this class and I believe we will be spending a bit more money than we get done in past seasons. I think Arsenal will pass this year," Brady said.
However, the old Republic of Ireland midfielder maintained signing talent is never easy, given the competitive market.
"Where are the players to go around everybody? It is not just the clubs in England, but likewise all the big European clubs are in the transportation market," he said.
Midfielder Samir Nasri on Tuesday night urged Gunners fans to ignore reports he could be on his way out of the Emirates Stadium.
The France international has yet to hold a new hand and is aforesaid to be a point for both Manchester United and Bayern Munich.
Brady, though, is convinced the 23-year-old will soon put his long-term next to the Gunners.
"We all rate Nasri," Brady said.
"I think they had extensive contractual talks but not reached a conclusion, but sometimes it takes time.
"I am optimistic he will be playing with Arsenal next year."
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