The 34-year-old Chelsea midfielder's contract expires at the end of the season and there have been reports of a shock January move across London to Emirates Stadium.
Arsenal fans are desperate for Wenger to act in the winter transfer window, although rumours about Lampard have been met with a mixed reception, after the defeat by Swansea City at the weekend left the struggling Gunners in 10th place in the Premier League.
But the Frenchman made a joke of the connection to Lampard when asked ahead of Tuesday's UEFA Champions League game against Olympiakos and referenced Greek philosopher Socrates.
When pressed about the England international, Wenger replied: "We are in the country of Socrates. He said, 'I know that I know nothing', and that is a bit like football."
The Arsenal manager has also insisted his attention must first be on getting consistent results rather than what might happen in the New Year.
"What is important now is to do well until 1st January," he said. "What happens in January, we will see if we need to do something and we will do it."
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