Cazorla had been a key player once again for the Gunners in the first half of the season, helping his side to challenge for the Premier League title.
He has been missing since November though, after first picking up a lateral knee ligament injury and then suffering a set back as he injured his Achilles.
The club had hoped to have him back next month, but Wenger has admitted he is still three or four weeks away from being fully fit and available.
Meanwhile Wilshere will be assessed next week as he steps up his recovery from his latest long term injury.
“Santi Cazorla is running again outside so it should be three to four weeks more training for Santi,” he told the club’s official website.
“It is his [Wilshere’s] first week back in full training and we’ll see how he responds to that, but the first signs are quite good. We’ll assess our options next week,” he added.
Elsewhere, there is more positive news for the Gunners as first team duo Petr Cech and Aaron Ramsey could return next week.
The goalkeeper has been missing since picking up a calf injury against Swansea in early March, while Ramsey has been missing since the win over Hull City in the FA Cup.
Both have been sorely missed, and while this weekend comes too soon, next week’s huge clash against West Ham could see them back.
“Cech is going back to normal training. It’s too early to say if he will be available for the weekend. He might be a bit short to be competitive,” added Wenger.
“Ramsey will not be available for this weekend, but hopefully next weekend.”