Berbatov has been linked with the Gunners this month.
Wenger said: "Do I rate Berbatov as player? Highly. Have we made any approach to sign Berbatov? No.
"I don't think (we would look to sign Berbatov) because we have (Nicklas) Bendtner who is coming back, we have Yaya Sanogo who is making very good progress in training.
"Of course we have lost Theo Walcott and that for us was a big blow. Hopefully we can compensate, but we have not made any approach (for Berbatov)."
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