Sanchez has yet to appear for Arsenal this summer, following his Confederations Cup participation and an extended holiday.
He will certainly miss Friday's opener at home to Leicester City while Wenger confirmed he is also likely to sit out the trip to Stoke City a week later.
"Alexis will not be available".
"He has a little abdominal strain that he caught on Sunday morning in training, before he came to Wembley". I don't know [how long he will be out] - two weeks, one more week.
"Personally, I think he is a hugely talented player, he's on the way up and he will continue to move up because the potential is there", he said.
But Wenger says his striker remains concentrated on matters at the Emirates Stadium.
"When a player goes into the final year of their contract, we will try to extend the contract because there is no reason we shouldn't do it, but we are not there yet". It can happen in pre-season and anyway, I don't think I would have included him on Friday night.
"Yes", Wenger said in July, as quoted by The Daily Telegraph.
Arsenal is set to receive an £80 million (about $104 million) bid from Paris Saint-Germain for Alexis Sanchez, according to reports.
"It is a long time I didn't speak to PSG, it is a long time since I spoke to them", Wenger told a press conference on Wednesday.
Pushed on whether he expected Al-Khelaifi to get in touch, he added: "No, no. I think if you read the French papers, they are on Mbappe's case to finish their transfer market".
"No", he replied when asked whether any players are closer to departing the club.