The 69-year-old put his Tottenham allegiances to one side and backed Arsenal.
The Gunners are second in the table, three points behind Chelsea after coming from behind to beat Stoke City 3-1 at the Emirates Stadium at the weekend.
They also have a seven-point cushion in the top four, with Tottenham back in fifth.
Wenger celebrated 20 years as Arsenal manager back in October but the last 12 of those have been rather frustrating, with the North Londoners failing to win another title since their Invincible season back in 2004.
And former Spurs chairman Sugar has claimed that he would love to see the veteran Frenchman end that hoodoo this season.
I'd love Wenger to win PL this season.Then retire, stick 2 fingers up to people like @piersmorgan and wish them luck finding a new manager— Lord Sugar (@Lord_Sugar) December 12, 2016
It certainly seems as if Arsenal have a good shot at winning the title but, at the same time, they are infamous for falling away around the February and March period so fans would not be hugely surprised to see history repeat itself this time around.
This might also be Wenger's final season in charge of Arsenal and it would be nice to see him bookend his lengthy career in North London with the Premier League title.