The Frenchman has not worked for another club since leaving Arsenal in May 2018 after 22 years at the Gunners.
However, after taking time out to spend with his family, Wenger believes the fire still burns in him to manage at the top level.
He said: ‘I thought, “do I go back straight into that heat again?”
‘It is not so much the heat but once you back in again there’s nothing else.
‘So I thought let’s take at least a little bit of time, then it is one month, two month, three month, four month and now I have a problem to go back in again!
‘I don’t know, I will get back into football for sure, what position I don’t know, it can be as a manager or not.
‘The appetite is still there, the desire is still there but I know what kind of life I have in front of me. I have to decide that now.’
Wenger has enjoyed his time out of front-line management, having worked as a pundit, spoken at many conferences, become involved in charity work and also turned his hand to investing with sports technology firm PlayerMaker.
Despite these commitments, the 69-year-old revealed he was apprehensive at leaving the Emirates, having spent so long inside the game at one club.
He said: ‘I was in front of the unknown so you never know how you respond to that situation. I never write a CV in my life but I never stopped working, from 29 until 69.’
Wenger added: ‘It was enjoyable, its not so much less stress because I’m always under stress a little bit.
‘What is good feeling is I don’t need to get up, I have a life that is interesting and I don’t have to leave it because I have a commitment.
‘That freedom of time in front of you, I discovered that. It’s a good feeling.’
Wenger also criticised the absence of Henrikh Mkhitaryan from Arsenal’s Europa League final against Chelsea in Baku on May 26.
The Armenian will miss the game due to safety concerns over political tensions between his country and host nation Azerbaijan.
Wenger also felt the distance to the final was unfair on fans, with both clubs struggling to sell their full allocations for the match.
He said: ‘It’s a little bit of a nightmare. It’s the same for both teams, I don’t think the teams have no problems, they live in ideal conditions, they have private planes, but it is the fans who suffer.’
On Mkhitaryan he added: ‘It is not something that should happen in the modern world, politically you cannot play a football game.’