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Wenger will celebrate two decades in charge of Arsenal on Saturday before they take on Burnley at Turf Moor in the Premier League a day later.
The Frenchman has come under criticism in recent seasons for lack of transfer activity and Arsenal’s failure to win the league title since 2004, missing out last term despite Manchester City, Chelsea and Manchester United finishing well off the pace of champions Leicester City.
But Schmeichel, who came up against Wenger’s early Arsenal teams during the latter years of his spell as Manchester United goalkeeper, wants to see the 66-year-old remain in the English game.
“I think he has been fantastic, we owe him so much gratitude. I think he introduced better play which we all took inspiration off,” Schmeichel told Omnisport.
“The competition he had with Sir Alex Ferguson made Manchester United much better that’s for sure and I think all in all he has made the Premier League so much better and I am not one of those guys who want him gone.
“I want to see him carry on because he has so much to offer English football.“