Tottenham's Welsh star has notched eight of his side's last 10 goals, and has been compared favourably with Lionel Messi and Cristiano Ronaldo.
His form has also led to the 23-year-old being named as the Barclays Premier League Player of the Month for February.
Bale will line up for Spurs in Sunday's North London derby, and Arsenal boss Wenger knows what Bale can do but thinks it will be hard to keep to his current high standards
"He has good pace, a good shot and his pace is an advantage to use with his shot," admits Wenger.
"And at the moment he has a good conversion rate between the chances he creates and the goals he scores. But that goes in cycles. No, he won't play like this forever.
"To maintain that conversion rate, which I think is the best in Europe, is very, very difficult."