The German was told in a meeting with the Gunners boss that he can find a new club in the final week of the transfer window. And the Gunners would prefer to sell the 29-year-old if their valuation of between £10m and £11m is met, rather than loan him out for the season.
Podolski has an agreement in principle with Italian champions Juve, but he also has and offer on the table from Wolfsburg, while Galatasaray, Olympiakos and New York Red Bulls are also interested.
Goal revealed last week that Arsenal were braced for offers for the World Cup winner as Wenger prepared to sanction his departure.
Podolski was a marginalised figure at Emirates Stadium last season and, with growing competition for the attacking roles, is willing to move in search of regular football.
He did not feature in the 18-man Arsenal squad that travelled to Everton last Saturday even though he was fit to play.
Podolski, who turned 29 in June, has two years remaining on his contract and was ignored in the flurry of extended deals handed to senior players at the end of last season.
Wenger does not believe that the Germany international has the physical power and technical ability to spearhead the attack and he is behind the likes of new signing Alexis Sanchez, Walcott, Wilshere, Santi Cazorla and Tomas Rosicky in the battle for the flank roles.
Podolski is believed to be the only senior Arsenal player who could be sold in the final weeks of the window. Wenger is keen to hang on to Costa Rica forward Joel Campbell, who has attracted strong interest from Premier League clubs and overseas.