Garcia's agent Manuel Garcia Quilon admits he has had no contact from the north London club and expects him to stay at Benfica.
Quilon said: "The only interest from Arsenal in the player is what I have seen in the Portuguese press.
"I can guarantee I have not had any contact with any club about a possible departure from Benfica.
"Javi is happy at the club and he is very happy to stay in Lisbon. He is just thinking about winning the league and playing a big role in the Champions League."