Eriksson was the first foreign manager appointed to the high profile position of England manager back in 2001 and he does not agree with the current consensus in the country that Fabio Capello's successor needs to be English.
"People talk about Harry Redknapp as the people's choice. But I'm quite sure if the FA could get Wenger, they would take him," Eriksson told the Sun.
"If you consider him foreign after all his years in England, I don't know.
"Arsene Wenger can adapt to everything. I mean, he lives for football and his family.
"You see how much it matters to him every game. But you also see when it's a Euro or a World Cup, he is working on it for French television. So he doesn't miss anything. That's his holiday!"
Eriksson also dismissed suggestions that the Frenchman, who is in the midst of his worst start to a season at Arsenal, would find it impossible to translate his success at club football onto the international stage. One of the major issues would be whether or not Wenger's focus on beautiful football and developing youth would get England the immediate results to satisfy their notoriously fickle minded supporters.
"I'm sure he can do that but he's just one of the names. There's Redknapp. Alex Ferguson will never take it of course," Eriksson said.
"For me, it doesn't matter if he is English. Whatever nationality the coach, he has a difficult time if you don't reach the semi-finals. Quarter-finals was not good enough!"
Eriksson's time in charge of England has been deemed by many as a failure despite the Swede guiding England to three tournament quarter-finals during his time at the helm.
Current England boss, Fabio Capello has already confirmed he will quit the post following Euro 2012.
England just need a point against Montenegro on Friday to qualify for the tournament from Group G.