Karim Benzema is very happy at Real Madrid and has no intention of leaving the club, according to the forward's agent.
Reports in Spain on Wednesday suggested Arsenal had submitted an offer for the France international ahead of the January transfer window.
Benzema only signed a new four-year deal at Real in September and his representative, Karim Djaziri, has quashed speculation of a move away from the Bernabeu.
"Karim Benzema is very happy at Real Madrid," Djaziri told Sky Sports News. "He signed a contract extension last month and has absolutely no intention of leaving the club."
Benzema joined Real in 2009 and has scored 182 goals in 373 appearances, helping the club to win two La Liga titles and three Champions League crowns.
Arsenal boss Arsene Wenger broke the club's transfer record last summer to sign forward Alexandre Lacazette for £53m, while the Frenchman also has Alexis Sanchez, Theo Walcott, Olivier Giroud and Danny Welbeck at his disposal.