The French striker will not leave the Santiago Bernabeu this summer to join Arsene Wenger's side, according to the player's representative
Goal exclusively revealed on Friday that Arsene Wenger is considering a move for the France international, although any potential deal hinges on whether Madrid will launch an offer for Liverpool forward Luis Suarez before the close of the transfer window.
But the 25-year-old's agent claims the player does not want to leave the Santiago Bernabeu this summer despite the speculation surrounding his future.
"We can not fight against the rumours, but I assure you Karim will not go to Arsenal," Karim Djaziri told French newspaper Le Journal du Dimanche.
"There has never been any discussions and no contact has been established."
The Gunners, yet to make a major summer signing, have also been in talks with Real Madrid over Benzema's team-mate Angel Di Maria.
The Argentine will be allowed to leave the club as they prepare to announce the world-record transfer of Tottenham's Gareth Bale to the Spanish capital.