The tie remains on a knife edge after the Gunners came from two goals down to hold Wolfsburg to a 2-2 draw in Germany.
Match preview
Arsenal may have thought that their hopes of reaching the Champions League final had dissipated when trailing by two goals inside the opening 24 minutes of the first leg.
However, Rafaelle Souza pulled a goal back on the stroke of half time to give Arsenal a foothold before Stina Blackstenius completed the comeback with a 69th-minute equaliser.
With the Gunners looking to reach the Champions League final for the second time in their history, they will be hoping to make full use of home advantage with the second leg set to take place in front of a sold-out Emirates Stadium.
Jonas Eidevall's side will be able to take confidence from the fact that they are unbeaten in nine home matches in all competitions.
The Gunners have lost their two previous two-legged European ties against Wolfsburg, but they already knocked out German opposition this season after beating Bayern Munich 2-1 on aggregate in the quarter-finals.
After establishing a two-goal in the opening stages of the first leg thanks to strikes from Ewa Pajor and Sveindis Jonsdottir, Wolfsburg will be disappointed to head to the English capital on level terms.
Wolfsburg boss Tommy Stroot would have taken some comfort from the fact that his side are now unbeaten in five games across all competitions.
They are also yet to lose on their travels in the Champions League this season, having won three and drawn one of their four European away games.
Although they were eliminated at this stage of the competition last term, Wolfsburg have won five and lost just two of their six Champions League semi-final ties.
They have also won both of their previous European semi-final ties against English opposition, beating Arsenal in 2012-2013 and Chelsea in 2017-2018.
Arsenal Women Women's Champions League form:
W
L
W
L
W
D
Arsenal Women form (all competitions):
L
W
W
W
L
D
Wolfsburg Women Women's Champions League form:
W
D
W
W
D
D
Wolfsburg Women form (all competitions):
Team News
Arsenal are unable to call upon the services of Leah William, Beth Mead and Vivianne Miedema, who all are sidelined with anterior cruciate ligament injuries.
Kim Little and Lina Hurtig are also sidelined, while Gio Quieroz and Jodie Taylor are not registered in the Champions League.
There is also doubt surrounding the availability of Caitlin Foord, who has missed Arsenal's last two games through injury.
As for the visitors, Lena Lattwein is unlikely to feature after missing the last three matches due to a broken collarbone.
Alex Popp is recovering from an Achilles tendon injury, and the Germany international is in a race against time to prove her fitness for Monday's encounter.
Having scored eight goals in Europe this season, Pajor is currently the top scorer in the Champions League, and she will look to add to her tally when she leads the line against Arsenal.
Arsenal Women possible starting lineup:
Zinsberger; Maritz, Wubben-Moy, Beattie, Rafaelle; Maanum, Walti, Pelova; McCabe, Catley, Blackstenius
Wolfsburg Women possible starting lineup:
Frohms; Wilms, Hendrich, Janssen, Rauch; Oberdorf, Roord; Brand, Huth, Jonsdottir; Pajor
We say: Arsenal Women 2-1 Wolfsburg Women (Arsenal Women to win 4-3 on aggregate)
The first leg demonstrated that there is little to separate the two sides, but a packed-out Emirates could be the decisive factor, and we think the home support will push Arsenal over the line.