The English striker was the subject of an offer from the Gunners in the summer following his brilliant season of 24 goals which helped the Foxes to a surprise Premier League title.
There was much spoken and written about Vardy's potential shift from the King Power Stadium to the Emirates but the 29-year-old opted to remain in the West Midlands due to the following reasons he disclosed in his autobiography - 'Jamie Vardy: From Nowhere, My Story' - serialised by The Sun.
“Arsenal triggered the release clause in my Leicester contract — giving me a huge decision to make," Vardy writes.
“I tried to work out the pros and cons.
“But I also thought about the tactical aspect.
“You look at Arsenal's style of play and they don't get the ball forward quickly in the same way Leicester do for those runs I like to make in behind the defence.
“One thing that didn't worry me was the idea that I wouldn't be the 'main man' at Arsenal.
“Every time I've moved, I've managed to meet the challenge in front of me.
“It wasn't to do with 'loyalty' or how I feel about my team-mates.
“Players always come and go.
“It was more a case of seeing Leicester as a club that wanted to build on what we achieved with the title and I want to be part of that.
“I'm happy with how everything has turned out.
“'The dream continues,' Claudio texted me after I agreed to stay.
“That's exactly how I felt, too."