The Italian giants have openly declared their interest in recruiting the Belarus international, which prompted Gunners boss Arsene Wenger to threaten to report them to FIFA.
Hleb, 26, will have two years of his Arsenal deal to run this summer and FIFA regulations would allow him to buy out the remainder of the contract.
"Who knows what will happen?" said Hleb in the Sunday Times.
"All I can say is that I enjoy the game here and enjoy playing for Arsenal. There is more to come from this team and from me."