The Gunners are 13 points adrift of leaders Chelsea with just 13 games gone as they prepare to welcome third-placed Southampton on Wednesday night.
But Wenger, who has faced calls to quit in recent weeks, is convinced his squad can challenge again for a title they have not won for 10 years.
“After 13 or 14 games, you cannot say that (the title race is over),” Wenger said.
“We have not started very well, but we had never the squad together since the??start of the season. It was a typical post-World Cup start.
“I think we have what is needed to do it (challenge for the championship??again).
“We have to fight like mad now to come back as much as possible to show that??we can compete in every single game.
“We have fought many times for the title. People always remember who won it,??but the fight has been very tight for long periods in the last eight or nine??years.
“We have big competition in England, we have to accept that. The Premier??League level goes always up and this season Chelsea has started very well.
“They??will be difficult to catch, but everybody will fight to come back.”