The 27-year-old arrived at the Emirates Stadium on January transfer deadline day in an £8.5million deal from Malaga, which so far looks a more than sound investment.
The defender, standing in for injured England left-back Kieran Gibbs, produced solid displays in his first taste of Barclays Premier League action against Stoke and at Sunderland, before showing glimpses of his forward ability when his run and cross set up a late winner for Santi Cazorla against Aston Villa.
Wenger is confident with time, Monreal will provide another outlet to the Gunners' many attacking options.
"The first thing you want from your defenders is to defend well, so we cannot reproach him for that. You will see the other aspects of his game more when his confidence has settled," Wenger said in the March edition of the official Arsenal magazine.
"He is good in the air for a guy of his size, has a quick leap and has looked good.
"Monreal is very strong in other areas too, his crosses for example, and his forward play you will see a bit later.
"It happened with Kieran Gibbs too, the more confident he became the more efficient he was going forward.
"It can take a bit if time to express that side."