The 21-year-old is on loan at La Liga side, Granada, and he is all set for another temporary switch away from the Emirates.
According to reports from Sky Sports, Rangers are keen to sign Toral on a short-term deal. The negotiations over the loan deal are already underway.
“We work on it [Toral’s transfer] to see if it is possible, yes,” said Wenger, as quoted by FourFourTwo.
Toral joined Arsenal from Barcelona’s academy in 2011, but the midfielder is yet to make his senior debut under Wenger.
He has made just five La Liga appearances this season, including being an unused substitute against Real Madrid on Saturday. Wenger feels that a move to Rangers would be more beneficial to the youngster, who had previously enjoyed successful loan spells with Brentford and Birmingham.
“Yes, because he has played games there [at Granada] but at the moment he doesn’t play and personally I think it would be a good transition for him,” the Frenchman added.
At this stage of his career, what it is important for Toral is to get regular games under his belt. Rangers, who are currently second in the Scottish Premiership, can provide him that opportunity.
Arsenal are stocked with talented attacking midfielders at the moment, and Wenger cannot provide him regular chances in the side. Moving out on loan is the best option for the Spaniard, as he needs to play regularly to regain his confidence.