Just a year on from completing a big-money move to Camp Nou, the 21-year-old winger is being heavily linked with another high-profile transfer.
The Gunners have, however, been told to look elsewhere for attacking reinforcements, with Barca prepared to fend off any interest in players recruited with one eye on the future.
Club president Josep Maria Bartomeu told reporters during a visit to MIT in Massachusetts: “Dembele will go nowhere. He and [Philippe] Coutinho are a big investment for us.
"They are very important to our project and we expect a lot from them.
"Coutinho in the last four months has been very active in the team but Dembele is a very young player and talented and we expect great things. Next seasons will be different. It's not easy to play at Barca in your first year because the style of football is quite different from at other teams."
While moving to rule out a possible departure for Dembele, Bartomeu is prepared to admit that there will be comings and goings at Camp Nou during the summer transfer window.
He added: "Some players will come, others will go, that's normal.
"But there's no doubt that, without naming names because a lot of them are negotiating now with the club, new players will arrive."
One man who will definitely be on Barcelona’s books next season is Lionel Messi, with those at Camp Nou hoping to see their mercurial Argentine forward return to Catalunya on the back of a productive World Cup 2018 campaign with his country.
"I would like that he won the World Cup, of course," said Bartomeu .
"He's the best player in the history of football. Adding that title to the hundreds that he has already will be good for him but also for FC Barcelona."