Hawthorns club will reject any bid from the Emirates Stadium for star.
West Bromwich Albion will not consider any offers for striker Peter Odemwingie despite interest from Arsenal.
The 29-year-old scored 15 goals in all competitions in his debut English season after moving from Lokomotiv Moscow last summer.
The Nigeria international has 12 months left on his current contract which has attracted interest from the Gunners and Chelsea.
But reports from Africa saying he had signed for Arsenal are wide of the mark and West Brom technical director Dan Ashworth says there has been no approach for the hit-man.
He also revealed negotiations are ongoing between the club and Odemwingie over agreeing a new contract to stay at the Hawthorns.
“Our aim is to retain our core players and try to strengthen our squad around them,” Ashworth told the Birmingham Mail.
“I want to make it clear that Peter Odemwingie is not for sale and remains a key member of our squad.
“We have not received any offers for Peter and we have placed no valuation on his head.”