The England international was withdrawn from the 3-1 defeat to Aston Villa on Saturday after coming off worst in a collision with Villa defender Antonio Luna.

Oxlade-Chamberlain left the Emirates Stadium on crutches, sparking fears that he could be set for a lengthy spell on the sidelines.

However, Wenger - speaking ahead of Arsenal's UEFA Champions League play-off clash with Fenerbahce - revealed that the 20-year-old will not need an operation and could be back in action by October.

"He has a posterior cruciate problem, a ligament which is stretched," Wenger said.

"He will be out for at least six weeks. We don't think he will need surgery."

Oxlade-Chamberlain gave a gloomier outlook on his injury when he took to Twitter later on Tuesday, on his official account he posted: 

"Gutted i'm injured so early in the season. But I'm going to be working hard to hopefully be back playing in 3 months."

After the disappointing defeat to Villa on the opening day of the Premier League season, Wenger reiterated that he is looking to bolster his squad following a quiet transfer window thus far.

And he believes that he has ample time to complete the signings he needs.

"Less than two weeks is a long time," he added "And 75 per cent of things happen in the last two days."

Arsenal have signed just one player during the close-season, bringing in Yaya Sanogo on a free transfer.