The Frenchman has not lifted a trophy since 2005 and has come in for criticism from supporters for not spending big in order to turn the Gunners into contenders both domestically and in Europe.
And the 64-year-old is determined to continue with that strategy.
"It's one of the values of our club [promoting from within]," Wenger told the club's official website. "We want to be very successful without neglecting the need to give a chance to people.
"I want it to be part of our tradition and I also want to develop a spirit inside the club that makes the young players be faithful to this club.
"It has to work in both ways but we want to be the ones who give [youth] a chance."
However, the Arsenal boss does acknowledge that there has been a shift within the game in terms of longevity at the top level, and that experience within his side is still important.
"Football has changed," he added. "It's quite amazing because football is like a fast train on the evolution side, which forces the players to adapt to the evolution.
"I believe that the players are better prepared now, and they last longer because they take care of their health much better.
"The medical environment is much better than it was 10 or 15 years ago and the individualized injury-prevention training is much better than it was before."