The Frenchman, who extended his 21-year stay at the club by signing a new two-year contract in May, said at the club's annual general meeting last month that he sat down with the board at the end of every season.
He told beIN Sports that his comments had been misinterpreted.
"I said I sit down with the board at the end of every season and see where we go from there, so that's not exactly the same," Wenger said.
"Sometimes you will say a sentence and people will turn it the way we would like to go.
"I have a two-year contract and I will always try to go the end of my contract, but I always have the honesty to sit down with the board and to see where we go from there. That's quite simple."
Arsenal, who are sixth in the league, host third-placed Tottenham in a tightly-contested north London derby on Saturday.
"No decision has been made on that front - do we let anybody go in January or not? We'll have to think about that to see where we stand at the end of December," he said.
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies