The Gunners boss admitted he admires the Bulgarian but reiterated that he is not a January target, and insists he is not close to signing anyone in this window.
Goal revealed on Thursday that north London rival Tottenham is eying a January move for the Bulgarian as the club looks to bolster its own attacking ranks, but Wenger is adamant he has made no move.
"Do I rate Berbatov as a player? Highly. Have we made any approach to sign him? No," he added.
In October it was revealed that Wenger has agreed the terms of a new contract to keep him at Arsenal until the summer of 2016, and he has now hinted he will stay.
"There's a point where you decide and a point where you make it public," he said. "You can take that sentence how you want."