It had been reported that the Frenchman would commit to the club for another two years beyond his existing contract, which expires at the end of the 2016-17 campaign.
However, Wenger was firm in his denial of that claim, saying: "It is completely wrong. I don't know where it has come from. You can treat that as an invention."
The 66-year-old, who has been with the Gunners since 1996, has come in for criticism from sections of the Emirates faithful this season as the Gunners again failed to mount a sustained title bid.
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To make matters worse, bitter rivals Tottenham look set to finish above them for the first time since Wenger took over.
Arsenal close the season at home to relegated Aston Villa, while Spurs travel to another Championship-bound club in Newcastle United.
Wenger will be without Danny Welbeck, who picked up a knee injury against Manchester City that will keep him out for up to nine months, ruling the England striker out of Euro 2016.
"We are all devastated. The whole squad is. We will support him through this," Wenger added.