The France international took to twitter amid claims he was set for a move to the Emirates, tweeting: "For all those clowns who want to make believe things at my fans. Here this is my home ! #HalaMadridYNadaMas."
Last nights 0-0 draw with Liverpool highlighted the Gunners need for a world-class forward, with Olivier Giroud once again failing to produce against a bigger club and the Mail are reporting Arsenal have now turned their attentions to Edinson Cavani after Benzema's snub.
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The Real Madrid star has been on the fringes at the Bernabeu due to a thigh injury, but is determined to prove his worth in the Spanish capital.
With seven days of the transfer window remaining, time is running out for the Gunners to sign the world-class centre forward Arsene Wenger is looking for, and Edinson Cavani could prove to be their only hope.
The Mail claim Arsenal are looking for alternatives after Benzema's refusal and have highlighted Cavani as their top priority.
The Uruguayan has scored 56 goals in 96 matches since joining PSG from Napoli in 2013 and could prove to be the calibre of striker the North London club have been searching for for some time.
It remains to be seen whether PSG will be willing to sell Cavani, and would be hoping to recover a health portion of the €64.5 million they spent on bringing the 28-year-old to the French capital.
However with a reported transfer kitty of £200m, Arsenal have the funds available to prize the forward away from Paris, and following last nights draw a new striker has to be a necessity before the window closes.
Arsenal fans, what did last nights game prove your side needed? Have your say below!