A comprehensive 3-0 home win over Dinamo Zagreb, coupled with Bayern Munich's 6-1 drubbing of Olympiakos, leaves the Gunners needing to win by two goals in Greece to reach the last 16, a task which Wenger thinks his side are up to.
He told reporters: "We wanted to come out of the game with a chance to qualify. We needed to do the job and Bayern needed to do the job. Both did it well and it gives us a chance.
"How big the chance is I don't know, but I believe we can do it. If you can win 1-0 you can win 2-0 as well. For us the task has one advantage - it's very clear.
"Obviously I know 1-0 will not be enough, but that will be a time where they can lose it and we can win it. It will be tough but I have to believe we can do it."
Arsenal can be backed at 9/4 to qualify from Group F, with Olympiakos 1/3, while the Gunners are available at 33/1 to win the Champions League for the first time in their history.
Meanwhile, Wenger also confirmed that both Olivier Giroud (ankle) and Hector Bellerin (groin) were replaced during the win over Dinamo with one eye already turned to the weekend Premier League clash with Norwich City.