Reports in Germany had suggested that the Bundesliga club could be interested in Arsenal's proposal but the midfielder has been told that he will not be sold.
Julian Draxler will be staying at Wolfsburg this summer, according to the Bundesliga club’s sporting director Klaus Allofs.
Reports in Germany have claimed that Wolfsburg is ready to sell up to 10 players in the transfer window and could be tempted by Arsenal’s 60 million euro ($66.8 million) proposal for the 22-year-old.
Wolfsburg finished eighth in the Bundesliga last season and the club has already admitted that Andre Schurrle could leave following interest from Borussia Dortmund.