Kolasinac has been in fine form since signing for Arsenal from Bundesliga side Schalke back in the summer.
Fans were worried he could be facing a lengthy lay-off after picking up a knock against Swansea at the weekend.
But Wenger has allayed fears over Kolasinac by saying the injury was not as bad as first feared.
“Today he was much better, he will have a test at the end of the week,” he told reporters.
“He’s not ruled out of Sunday yet, but he won’t play tomorrow.
“It’s not as bad as it could have been.”
Wenger also gave updates on David Ospina, Calum Chambers and
“Ospina will be OK tomorrow. Calum Chambers is back in training. Mustafi after the break,” he added.
Meanwhile, in team news, Arsenal will not be fielding Mesut Ozil and Alexis Sanchez tomorrow night.