The Frenchman has not enjoyed the best of times this season, leading to talk that the Gunners may miss out on a Champions League berth for the first time in his tenure.
However, a run of seven wins from their last nine league games has put the north Londoners back in the hunt for a top-four finish ahead of Saturday's trip to Craven Cottage.
Victory by the Thames would propel them into third and former Spurs boss Jol thinks Arsenal will end the season successfully.
"I admire him, he is an unbelievable manager," the Dutchman said of Wenger - a man he has the odd disagreement with in the past.
"Of course you have got your problems now and then if you meet each other.
"He is emotional, he wants to win but even this season if you look at them they have been under pressure.
"Then they had an unbelievable win at Bayern, they came back and other teams like Chelsea, Spurs and Everton are fighting for a top-three, top-four spot.
"They are doing it again and I think they will make the top four."
Arsenal have won just one of their last four trips to Craven Cottage and Jol sees Saturday as the ideal opportunity to make amends for Wednesday's 3-0 west London derby defeat at the hands of Chelsea.
"I can remember the team struggling here," he said. "But, for example, we have done very well against Chelsea over the last four games and then we lost 3-0.
"Arsenal have done ever so well the last couple of months. They are on the top now and they want to play Champions League football.
"Hopefully we can get back to winning ways because that is important."
Fulham will welcome back influential midfielder Steve Sidwell for tomorrow's game after a three-match ban, although Sascha Riether is a doubt.
Alex Kacaniklic could be involved after being recalled from a loan spell at Burnley, while Damien Duff, Ashkan Dejagah and Mahamadou Diarra are all unavailable through injury.
Another unavailable is on-loan Emmanuel Frimpong as he is ineligible to face his parent club.
"Frimpong is a young player and very good option for us," Jol said of the 21-year-old, who has made just one Fulham start.
"I won't say he was a cheap option, he was the first player to come in on loan because you never know.
"We were a bit under pressure to bring in midfield players and then after that, one day before the transfer window close, I had a chance to get in Eyong Enoh from Ajax.
"In hindsight, I am very happy he is here and has played his part. Not a big part, but he has played his part."