Before the match Wenger had said his champions would continue to fight until it was mathematically impossible but, with Chelsea 11 points clear with five games to go, the Frenchman was realistic.
"We will not be champions this year and we knew that when we came," he told a news conference. "They will be champions unless someone puts a bomb here. There should be a huge accident for them not to be champions.
"Chelsea are worthy champions because they have been remarkably consistent and that is most difficult in professional sport."
Had Chelsea won they could have wrapped up their first title in 50 years with a home victory over Fulham on Saturday but will now have to wait a little while longer.
Their task might have been made slightly trickier if Arsenal winger Robert Pires had scored with two great early chances, the first of which smashed off the bar.
"That was certainly the turning point of the game," said Wenger. "It would have been a much more open game if we had scored first."
Chelsea assistant coach Steve Clarke remained cautious but was not worried they will now probably have to wait until after their Champions League semi-final first leg with Liverpool next Wednesday to seal the title.
"We are not quite champions yet, we have got to finish it off," he said. "It doesn't matter when we win it. We are not putting any pressure on ourselves to win it quickly."
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