Wenger, who took charge of Arsenal in the summer of 1996, has enjoyed a successful stint at the North London club, winning numerous trophies including three Premier League titles and five FA Cups.
Although the Gunners failed to win a single piece of silverware for nine years, the board kept their faith in Wenger, and the Frenchman finally delivered as Arsenal lifted the FA Cup last season.
And Mourinho, who has had numerous arguments with Wenger over the years, feels that his rival has the perfect job that everyone is envious of.
"He has a dream job that we'd all love to have," said Mourinho, during an interview with Sky Sports programme Goals on Sunday. "I think every manager in the world would like the stability by being here year after year after year, to buy to sell and rebuild and wait and wait for success."
However, Mourinho, who insists that Wenger is a "fantastic manager", is certain that more success is sure to follow considering the talent in his squad.
"What he did winning so many titles in a certain period gave him that credibility that he deserves. He's a fantastic manager but I think he has a fantastic situation to be successful. When I look at the players and the squad I really think they have to win."
Meanwhile, the Portuguese also feels that Manchester United boss Louis van Gaal will eventually turn things around at Old Trafford despite him enduring a difficult start to his Reds Devils managerial career.
"He is a fantastic coach and it's easy for me to say as I know him so well and he is a fantastic person," added the former Real Madrid boss.
"But he has been in so many years of his career before he came to England. In the same way a player needs time to adapt to understand things to perform at the highest level it is the same for Louis."
Mourinho, who worked under van Gaal at Barcelona, feels that the Dutchman just needs a little more time to adapt in England.
"I think Louis will have time to make Man United a team with titles again," said Mourinho, adding that the Red Devils do have a good chance to win the FA Cup and make a top four finish in the Premier League this season.
"This season they still have a chance to do it with the FA Cup and they have everything open to still finish in the top four and go back to the Champions League, which is the minimum a giant like Man United needs and wants."