The veteran Frenchman has come under fire this season.
The Frenchman has come under scrutiny this season for his failure to end the Gunners' infamous title drought in a campaign which has seen Leicester City win the competition.
The 66-year-old, whose Arsenal side has not won the Premier League since 2004, was expected to be the subject of mass protests in Saturday's 1-0 win over Norwich City, though only a small number of the Emirates Stadium crowd went ahead with it.
In fact, many supporters reiterated their support for their long-serving manager with a 'only one Arsene Wenger' chant in a successful bid to drown out the discontenting fans.
In any case, Wenger is clearly in the twilight of his career in North London, given his age and the fact his current deal expires in 2017, but Keown, who played under him at Arsenal, says that his former gaffer will look prolong his stint at the club if he proves the doubters wrong next term.
"Whatever happens, you cannot overstate his achievements with Arsenal and what he has done for English football," he said to The Mail.
"If he were to win the league next year, I think that would just reaffirm his self-belief and he would use it as motivation to continue rather than to use it as the perfect exit."
Wenger's side sit third, three points behind North London rivals Spurs with two games to go.