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Wenger has been unemployed since his departure from Arsenal at the end of the 2017-18 season.
In his spare time, Wenger has been associated with many jobs across Europe, including the Real Madrid headquarters.
Premier League fighters Fulham tried to acquire the 69-year-old, but were overthrown before appointing Claudio Ranieri as successor to Slavisa Jovanovic.
Wenger no longer wants to be in England because of his 22 years at Arsenal, where he won three Premier League titles and seven FA Cups.
According to the Telegraph, the French is eager to run one of the most prestigious clubs in Europe to end his legendary career with more silverware.
And he says he has firmly decided to head Bayern, who would be interested in finding the unemployed manager.
Many German reports have claimed that the legend of Arsenal was on the list of candidates for Bayern to replace current director Niko Kovac, who oversaw the worst start to the season since the campaign 1994/1995.
The pressure has been on Kovac for weeks and has increased last weekend after his team advanced to Fortuna 3-1.
Wenger reportedly rejected a multitude of offers during his six-month sabbatical, which he recently revealed to be about to end.
"I believe that [I’ll] start again on January 1st, I do not know yet [where I’m headed]. I'm rested and ready to go back to work, "he said.
"Thanks to my 22 years at Arsenal, I have a great experience at different levels.
"There are inquiries from around the world."
Although he is eager to manage again, Wenger admitted that he could join a club in a non-manager role.
"It can be done in different ways," beIN Sports told a possible return to football. "It can be immediately responsible for the outcome of the next match.
"It can be as good to manage a club with a little delay on the manager.
"It can be both a technical responsibility in world football, with an international company. This can be in different ways.
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