Restricted to just two appearances for the Hoops academy side to date, a report by The World Game suggested the 19-year-old could return to Manchester City by December should he not crack the senior side due to a get-out clause in his contract.
Arzani had joined Celtic on a two-year loan deal making such an abrupt potential departure particularly intriguing, but the Scottish giants have been quick to squash any such possibility.
According to the Daily Record, the Hoops claim Arzani won't be leaving the club under any such circumstances and insist he will be staying into the new year.
While yet to play for the first team, Arzani has caught the eye playing for Celtic's academy side - scoring on his first start after an earlier substitute appearance.
Arzani featured off the bench for the Socceroos against Kuwait in a friendly this week with former Socceroo Robbie Slater slamming his decision to join Celtic after starring for Australia at the World Cup.
"An obvious error to take him there,” Slater said on Fox Sports.
“After doing what he did at the World Cup he needed to go somewhere and play regularly. The mail is Brendan Rodgers won’t be starting him any time soon.
“Something’s gone wrong - very, very wrong there.”
But as it stands, Celtic and Arzani look determined to prove the move was the right one for one of Australia's brightest talents in many years.