Wenger, who turns 60 later this month, has been with Arsenal since 1996, making him the Premier League second longest-serving manager.
The Frenchman once said he envisaged retiring at 50, but had a change of heart similar to Sir Alex Ferguson in 2001 when the Manchester United manager - who has been at Old Trafford since 1986 - was convinced to stay on.
'I don't believe in retiring unless you have to,' Wenger told a League Managers Association conference.
'I have never had a day when I think I could live without football.'
Wenger, who has not won a trophy with Arsenal since 2005, added: 'In our job you need physical strength and to be a bit of an animal to convince people it's important to win.
'But once that physical strength goes it's a handicap, although you can compensate to an extent with experience.
'But you need in some way to be an animal and you need physical power.
'You will know if you are not hungry enough any more but other people will tell you if you are not good enough any more.
'It's not for a manager to know - it's for other people to know and to tell him.
'I know one day it will happen when I have to live without football but you shouldn't live every day knowing you are going to die - you live knowing that you want to live.'
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