"Giroud? He's fantastic", Wenger said of the France international, who usually started on the bench last season and had been linked with a move away from The Emirates.
"Do you really think that you sit in the dressing room before the game and you think 'Oh, I have only one year to go - I will not play well today'?"
Upon his return to north London, however, the ex-Barcelona star picked up a cold that ruled him out of action for a few days before Sanchez took part in full training sessions.
Wenger added: "We know defensively we can do better but overall we produced a top-quality game".
But Wenger said he had not heard from PSG president Nasser Al-Khelaifi and referred to French media reports suggesting PSG are more interested in signing Monaco's Kylian Mbappe. With Manchester City already showing the world they can splash cash too, this would see a battle of the riches.
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He told SFR Sport: "In the short term he will remain an Arsenal player".
The competition for forward roles in the starting XI is at its hottest for several years.
Here he picks his Premier League teams to beat, bolter to watch out for and the clubs set for relegation. For all of his flaws, he has consistently delivered in situations like Friday's, and that will buy him plenty of credit.
Giroud was on the pitch for almost half an hour against Leicester with the 26-year-old Lacazette, who joined from Lyon.
"But at some stage I opened the door for him because I knew that I had many strikers".
Three minutes later Giroud headed home a Granit Xhaka corner from the centre of the box to the top left corner, to put the Gunners ahead and give them the boost ahead of their trip to Stoke next week.