The Gunners tried to lure the PFA Player of the Year Riyad Mahrez to the Emirates but the Premier League champions denied the transfer.
The Leicester City attacking ace revealed Arsene Wenger's side tried to secure his services last summer but a move to the north London club never materialised.
The Algeria international - who was continually linked with a move to Arsenal during the transfer window - decided to stay and sign a new deal at the King Power Stadium.
"There was contact with Arsenal," Mahrez told Canal Football. "But Leicester wanted to keep me and I was pretty expensive.
"I did not want to create a conflict when the offer came in.
"Personally, I think it is a good thing I stayed put," Mahrez added. "It's now up to me to prove myself again."