Giroud broke his tibia in the come-from-behind 2-2 draw with Everton in August and was expected to be sidelined for around four months following the Gunners medical staff’s initial diagnosis.
However, following surgery on the injury earlier this week, Wenger has revealed the France international is now hoping to return before the end of the year.
“Olivier Giroud is recovering very well,” the Frenchman is quoted as saying by French television channel beIN Sports.
“I believe he is ahead of schedule in terms of rehabilitation. The operation went perfectly.”
The Gunners boss also hinted he could change his formation when Giroud returns in order to accommodate both the Frenchman and new striker Danny Welbeck, who has made a solid start to his career at the Emirates.
“Welbeck and him can play together in the centre or separately,” Wenger added.
“Welbeck also played on one side to Manchester United. Welbeck played in the same team with Rooney and van Persie. He can play down the sides.”