The Frenchman, 68, recently revealed he is stepping down from his role as Arsenal manager after 22 years.
However, he is not retiring from the game altogether and it is understood he would be keen to take up a role at a big club in Europe.
But The Mirror report he has received a lucrative offer from an unnamed Chinese Super League side, which would exceed the £460,000-a-week China boss Marcello Lippi currently earns.
To put that into context, Pep Guardiola is currently the highest-earning manager in the Premier League, on a little over £300,000-a-week.
Wenger earns approximately half that amount at the Emirates.
The Frenchman also has suitors in Europe, with Paris Saint-Germain thought to be interested in bringing him in to work alongside Thomas Tuchel.
Luis Enrique is the frontrunner to replace Wenger at the Emirates this summer.
The former Barcelona boss wants £200million to overhaul the squad — and has made Radja Nainggolan his No 1 target.
Ex-Arsenal skipper Patrick Vieira is also in the running, along with Atletico Madrid chief Diego Simeone.
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