The former forward believes the Manchester United midfielder could be an ideal signing.
The Gunners are currently short on options in central midfield, with Francis Coquelin, Santi Cazorla and Mikel Arteta all out injured.
The Spaniard looks set to leave in the summer alongside Mathieu Flamini and Tomas Rosicky, meaning the Gunners will be in need of reinforcements in the position at some point.
They may have already made some moves in that regard, with reports in the Mirror claiming they are close to signing Basel midfielder Mohamed Elneny.
Rather than going for youth though, Nicholas believes Wenger should move for the experience of Michael Carrick as a solution.
“It makes sense to me to go for someone 30,31,32 and there are a few about. If I was Arsenal, I’d go for Michael Carrick,” he told Soccer Saturday.
“He’s not got the legs and the pace but I think you need someone that has an authority that still gets the ball and passes it.”
“I’m not saying Carrick would play every week, because when Coquelin comes back he’ll be in, but Carrick could teach as well as play.”
If anything, signing Carrick could prove a masterstroke in helping Coquelin to continue his rapid development so far.
The Frenchman is still relatively inexperienced and Carrick could help him come on leaps and bounds in that regard.
It is not a transfer that would be hard to secure either, with the midfielder fighting for game time alongside Bastian Schweinsteiger and Morgan Schneiderlin at Old Trafford.