Pressure has been building on the French boss with some Gunners fans demanding a change in leadership having not seen their team lift a trophy for eight years.
And while they battle to secure Champions League football for next season, there have been reports Wenger is set to jump ship and head across the channel to manage Paris Saint-Germain.
But Song, signed by Wenger in 2005 before being offloaded to Spain last summer, told Sky Sports on Monday's night's Special Report: "He's the right man.
"I spent eight years with him and he's just unbelievable. I still keep in touch with him and the last time I met him he was very happy. Hopefully he'll stay longer at Arsenal because if they lose him today then they won't be the same."
Song moved to the Nou Camp last August for a fee of £15 million and although he has struggled to cement a regular starting role, Wenger has urged his former pupil to be patient and keep fighting for his place.
Despite the reported frustrations at the lack of first-team football, the Cameroon international said he is happy and fortunate to be in a squad with such talent.
"It's a pleasure to be here," the 25-year-old added. "Many people want to be here so I know I'm lucky to be here.
"It is different here than Arsenal. It's not the same. Arsenal have very good players but Barcelona have the best player in the world - Lionel Messi - and that's why the pace is different.
"We have quality players. I'm not saying Arsenal don't have quality players because they do, but Barcelona are the best team in the world."