The Arsenal forward has only just returned after 10 months out with a torn anterior cruciate ligament.
Wenger, however, feels it will not harm the 25-year-old to play a few minutes for the Three Lions this month, as they take on Slovenia and then Scotland.
But the Gunners boss is equally wary of overusing Walcott too early. Wenger wants the Arsenal star to take it easy and admits he 'does not want to make a big mistake.'
“If he wants to go with England next week, I’m happy for him to go and practice and maybe get a few minutes,” Wenger told reporters.
“Mentally, it will help him. Is he completely ready? I think it is a bit early but to be in the squad will be good for him.
"The battle is not won. After 10 months out you have ups and downs. I do not want to make a big mistake.”