Arsenal host Everton at the Emirates on Sunday in the last game of the Premier League season.
Wenger's contract expires at the end of this season, which Arsenal could finish with a trophy if they beat Chelsea at Wembley Stadium on May 27.
But speaking at a news conference on Friday, he confirmed the situation would be discussed at the board meeting, which is expected to be attended by owner Stan Kroenke. Barca, Real Madrid, Bayern, they always buy more players and I think we can have the option to buy more players to be stronger every day.
When asked whether a decision will be announced shortly after the FA Cup final, he replied, "Of course".
Arsene Wenger has branded Tony Adams' criticism of his management as "sad" and insists he is only focused on Arsenal securing Champions League qualification because "I'm not here to sell books". They lie fifth in the Premier League, one point behind Liverpool who hold the last Champions League spot; third-placed Manchester City have a three-point advantage.
At the conclusion of a season that only served to underline how far Arsenal have declined in recent years, Wenger knows missing out on the top four would be the last straw for a large section of his club's disenchanted supporters.More news: Freeland's 'battle-scarred' team capable of tackling NAFTA renegotiations: Trade lawyer
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"We are professional and we have to do our job", Wenger said.
"At the time, the wages weren't going to be much better, and I was stuck in my drinking and the London life with my mates and family around me".
If he does depart Spain this summer, his comments on Wenger may mean there is no chance of a return to Arsenal - where a number of their former players work.
"Everybody will be under scrutiny, so you just want the teams like Everton to fight against us, Middlesbrough to fight against Liverpool, Watford to fight against City". So, this is the real test of our character and if truly we are willing to bounce back to good times, this is where we should start to prove it, ahead of next season.
The Arsenal boss would not answer if Sunday's match would be his final premier League contest in charge of the Gunners.
"Sometimes when I look at the team we have and the players here. we often lose or draw against teams at home when we are superior", the Chilean said. And though I modified that in the final article it didn't go down well.