The Spaniard moved to the Emirates Stadium from Everton in 2011 and has since made 94 Premier League appearances for the club.
The midfielder's representative, Inaki Ibanez, has already played down suggestions that his client was set to move to Athletic Bilbao earlier this summer but that has not dampened speculation over his future, with Serie A side Fiorentina also now linked.
However, Ibanez has once again declared that Arteta is not in line for a transfer.
"I haven't heard from any clubs," he told Radio Blu. "What are the chances of him leaving? He's the captain of Arsenal, he is an Arsenal player and he's happy here.
"He also has a contract for another year."