The French full-back has a year remaining on his Arsenal contract, and has been linked with a move away from the north London club.
Having secured Champions League football for another season with a final-day victory over Newcastle, Wenger is confident of signing a top-quality replacement for the Gunners right-back should he leave.
And Lichsteiner could be the first of several signings this summer, as Wenger prepares to finally splash the cash.
Reports in Italy claim the Switzerland international has been lined up as Arsenal's first-choice to replace Sagna.
Lichsteiner can operate at right-back or further forward in midfield, and the Swiss star has impressed for Juventus in back-to-back Serie 'A' winning title campaigns.
The report suggests Antonio Conte's side would be willing to consider letting Lichsteiner leave, with the cash from any potential sale put towards the pot for a big-name striker this summer. Manchester City's Carlos Tevez has been linked with a move to the Juventus Stadium.
A return to France looks increasingly likely for Sagna, with Paris St Germain and Monaco the favourites to sign the 30-year-old full-back.