The Frenchman injured his knee when blocking a shot from N'Golo Kante in yesterday's victory over Chelsea.
After the match, Wenger confirmed that Coquelin's injury was in the same place as one he suffered last year, which kept him out for two months.
"Coquelin has a knee injury in the same place he suffered one against West Brom last year," he said.
"We don't know if the damage is as big. We have to wait for 48 hours, but he left the stadium in a brace, so that's the one negative. I am a bit worried for that".
Should Coquelin face a spell on the sidelines, Ganit Xhaka will likely take the Frenchman's place in the Arsenal side.