Alexis Sanchez is expected to start on the wing for Arsenal as Theo Walcott continues his rehabilitation.
Walcott injured his anterior cruciate ligament against north London rivals Tottenham Hotspur in January and has only just started training with the first team squad.
The England forward's delayed start to the season means £33m signing Sanchez could find himself deployed from a wide position where he will support Olivier Giroud.
"At the moment he might play on the flank because Walcott is injured. As well [he can play] through the middle in some games; we can play with Giroud, we can play without Giroud in a 4-4-2 or in a 4-3-3," Wenger told the official Arsenal website.
"That's why he is a major signing for us [and] that's why we spend a lot of money on him. He has the quality to be efficient everywhere he plays."
The 25-year-old, who became the most expensive transfer in Chilean football history upon moving to the Emirates, lead the line for his nation at the World Cup, scoring two goals before being dumped out by host nation Brazil.
But Wenger believes the former Barcelona forward's versatility will prove vital as Arsenal look launch an assault on the Premier League title.
"The fact that he's efficient, the fact that he's good off the ball," Wenger added. "He runs at people with the ball and he's a very versatile striker.
"He can play through the middle, he can play on both flanks and he has the qualities that I think are needed in England. He's brave, works hard and all these qualities together made me go for him."