Fraser has been linked with a move to the Emirates stadium and Wilshere who spent two seasons with the player during his loan spell at Bournemouth wants Arsenal to secure the latter's services.
With Unai Emery looking to overhaul his underperforming squad, the Bournemouth midfielder has been on his wish-list this summer.
The 25-year-old's future at the Vitality stadium is in the air as he enters into the last season of his current contract.
But reports are that Unai Emery is uncertain to launch a bid for the player.
"I think Ryan Fraser would be a great signing. I know him well. He's probably the hardest working player I've ever worked with," Wilshere told football.london.
"He's got an exceptional attitude. On the pitch he runs around all day - he's the first one on the pitch in the morning and the last one off it.
"His physical attributes have really come on. He's really improved that side of his game. He's really come on.
"Technically he's really come on. You can see that by all the chances he created last year. You can see that by the large number of assists he got last season.
“That's credit to him and credit to Eddie [Howe]. Eddie put a lot of trust in him and it's been rewarded.
"He's nurtured him and he's turned him into a top player - and if he goes to Arsenal I wish him all the luck in the world as he's a great guy and a great player."
After elaborating on the player's qualities, Wilshere also thinks Fraser's ability to create chances will be of help to both Pierre-Emerick Aubameyang and Alexandre Lacazette.
"Ryan would be the ideal candidate to load the bullets for Aubameyang and Lacazette to fire up front," Wilshere said.
"Imagine him and Ozil in the side. Imagine the number of chances they would create for the strikers.
"I always say Ozil is one of the best players I've ever seen and I've played with and worked with. Imagine if Arsenal had Fraser to add to the quality that Ozil can provide? They would be some team. The fans would love it."
Ryan Fraser scored 7 goals with 14 assists for Bournemouth in thirty-eight Premier League games in the 2018/19 season.
