The Arsenal pair have been side-lined through injury.
Arsenal are currently top of the table but Leicester City and Manchester City are hot on their heels and ready to take advantage of the slightest slip-up from the North London club.
The Gunners drew 0-0 with Stoke City last time out and it will not be easy to get back to winning ways against the reigning champions, who are a very different proposition under interim boss Guus Hiddink.
The latter has not featured at all this season after suffering a serious injury at the backend of the last campaign, while the former has been ruled out with a knee problem since late November.
However, Wenger had positive news for those fans eager to see the pair back in action.
“Coquelin is ahead of schedule and Welbeck should be back in training soon,” Wenger said.
Both players could still prove vital in the months ahead, with Coquelin integral to the club’s midfield and Welbeck’s goals and work ethic potentially making the difference with the title race the closest it has ever been.