The Danish striker was the subject of plenty of interest last summer following an impressive loan spell at Birmingham and Arsene Wenger is likely to fend off further advances from suitors next month.
But Bendtner said: "That's just paper talk. There's only one team for me and that's Arsenal. My heart and all my feeling is with this club.
"Ever since I came here three years ago, all I have wanted to do is to break into the first team and I won't rest until that happens."
The 19-year-old has scored three goals in five starts this season, including a deft finish in the Champions League against Steaua Bucharest last week, and has edged ahead of Eduardo and Theo Walcott in the battle to understudy Emmanuel Adebayor and Robin van Persie.
Bendtner said: "I would like to say I'm an all-round striker. Everyone at this club knows what I stand for, what I can do and that is the important thing.
"They know I am not just a targetman. Playing with Arsenal is about what you can do with your feet and your touch."