Ferguson took charge of 810 Premier League matches at Manchester United during the first 22 seasons of the competition.
Wenger is just 20 matches behind his former rival and is set to surpass it midway through the 2017/18 campaign.
One Ferguson record Wenger is some way from beating is that of the most wins.
The Frenchman has overseen 457 victories for Arsenal, a total that is 71 short of Ferguson's 528.
In the two seasons of his new deal Wenger would only be able afford four draws or defeats in his 76 Premier League matches to beat the 13-times title winner.
More attainable for Wenger is setting a record for the Premier League manager whose teams have scored the most goals.
The 1,487 goals scored by Arsenal under Wenger in the PL is 140 short of Ferguson's record with United.
Playing for Wenger, Arsenal have averaged 72.1 PL goals per season, putting the manager on target to beat Ferguson by about four goals by the end of his new deal.