He confronted the Gunners chief after being told of his comments and has now continued his outburst.
O'Neill said in the Sun: "Wenger has an opinion on everything. There is not a subject in this world at this minute - whether it is political, religious, anything - that he does not have an opinion on.
"He does say things for effect. You can get carried away with your own importance, you really can. Sometimes he does.
"After what he said about my team on Wednesday, I did go looking for him. I told him what I thought about what he had said.
"He has made a great contribution to the game here but he is not on a different planet.
"What he wants to do is try and point out to everyone who is under his spell that Arsenal are the only delightful team around."
O'Neill also feels Wenger's touch-line antics can have an influence on games. He is also critical of some of the on-the-field behaviour of the Arsenal players and what he sees as the failure of the Frenchman to acknowledge it.
He said: "There is a plan throughout. If he puts his hands in the air enough times, they (officials) will probably accept the fact he can see it from that distance, that Sol Campbell hadn't fouled Richard Dunne, and the referee obviously agrees with him.
"He's a very skilful manager but he has another record, like he has had something like 99 sendings off this year - and 98 of them weren't his fault. That is the problem.
"There are things that happen in the game you cannot always be fantastically proud of your team. There can be some nasty challenges made by Arsenal players - you cannot condone everything.
"William Gallas is just one the other week. You cannot condone everything. You have to say 'On reflection, I've seen it again and it's a nasty challenge'."
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