The England international has endured an injury nightmare over the past year, with his last appearance coming in the pre-season friendly against New York Red Bulls in July 2011.
An ankle injury kept him out for all of last season before the 20-year-old was forced to undergo knee surgery in the summer.
But there is now light at the end of the tunnel for the talented midfielder, but manager Wenger admits they are still at a ‘sensitive stage’ in his comeback.
The Frenchman told the club’s official website: “We are so pleased that Jack is back in full training. It’s been 14 months and that’s a long time for someone at his age. It’s an eternity, but it’s great news.
“We have to give him a few training sessions to see how he copes and responds to it. That’s the delicate, sensitive stage – to choose when to bring him in and out.
“We’ll have to handle that day-by-day.”
And there was further good news for the Gunners with fellow midfielder Emmanuel Frimpong back in action alongside his team-mates.
Frimpong has not featured since suffering cruciate ligament damage during an aborted loan spell with Wolves in February.
Wenger added: “We also have Emmanuel Frimpong who has returned to full training this week, which is great news as well.
“Emmanuel has also been out a long time, but is progressing well.”
– Report from Skysports.com