Barcelona were ready to launch a summer raid for the midfield ace.
But the Belarussian's agent insists Hleb, 26, is happy at the Emirates.
Niki Spilevski said: "I can understand why Barcelona would be interested in Alex.
"But Alex loves life at Arsenal. He feels he is at the best club in the world.
"He has the ideal manager, he loves his team-mates and loves London. Why would he want to leave?"