The French manager has been the longest serving and one of the most successful managers in the Premier League history by winning 10 major trophies. But in recent seasons the story has been different as the club has been failing to challenge for the major accolades.
Arsenal last won the premier league in 2003/04 season and only came close to winning the Champions League once, when they faced Barcelona in the final only to face a defeat 2-1 in 2006.
The last season was very disappointing for the club as they failed to qualify for the Champions League for the first time in 20 years. and, currently they are struggling on the 6th position in the Premier League and arguably are having their worst season under Wenger.
The only realistic way they can get to the Champions League is by winning the Europa League but face a daunting task against the Spanish giants - Atletico Madrid.
The club's Chief Executive Ivan Gazidis made a long and heartfelt homage to Wenger himself when addressing the media on Friday, but dodged the question several times when quizzed over whether Wenger had walked on his own terms before he was pushed by the board
"It's going to be a condensed summer with a World Cup in the middle and a shortened transfer window, so I think for all of us having that clarity sooner is better," he said.
Arsene Wenger had been influential in changing the playing style in English football and the Gunners will look to replace him with an attacking minded manager.
The front-runners for the role are Patrick Vieira the former Arsenal skipper, the German national team's manager Joachmin Leow and the former Borussia Dortmund manager Tomas Tuchel.
Arsene in a press conference had hinted that Vieira was the possible replacement for him at the club. The former French midfielder is currently managing New York City FC.
Arsenal seems to be falling behind their rivals who have let go of their pockets and have spent a big amount of money to buy world class players. This was surely missing in the Wenger's era as he made only a few of these signings.
Times are definitely changing and this change in the North London was inevitable as fans became more and more frustrated and the pressure grew on Wenger.