Wenger described his fellow Frenchman as a "special" player and pledged Arsenal would always remember his contribution to one of the club's most successful eras.
Vieira joined Arsenal from AC Milan in 1996 and was a key component of the teams which won the Premier League and FA Cup double in 1998 and 2002, before as captain he guided the team which became known as the 'Invincibles' to another title in 2004.
Arsenal did not lose a league match that season, and in 2005 they won the FA Cup when Vieira scored the winning spot-kick in a penalty shoot-out against Manchester United.
He left after that match, having spells with Juventus, Inter Milan and most recently City, where at the age of 35 he has agreed to take up a role as football development executive.
Arsenal have not been the same force since his departure, failing to win a trophy and struggling to keep pace with the likes of Manchester United, Chelsea and latterly Manchester City.
Wenger said: "You can only have lot of respect for what Patrick has achieved.
"His career is sensational. He was an exceptional player for us."
It was Wenger who urged Arsenal to sign Vieira, shortly before taking charge at Highbury, and he told on Thursday how the dynamic Senegal-born player stood out.
"We have classy players in midfield now but Patrick was special. He was a tall player with good technique," Wenger said on arsenal.com.
Wenger stressed he would not wish to compare Vieira, who made 406 appearances for Arsenal, with his current crop of players.
"We have exceptional players in midfield with their own character," Wenger said. "But at Arsenal we will be forever grateful for Patrick's contribution."
Source: Team Talk
Source: Team Talk