Juventus star Ramsey has been linked with a move back to the Emirates but that will not be happening.
The Gunners are in the market for a midfielder, with Granit Xhaka set to complete an exit soon.
Ramsey left Arsenal at the end of his contract in the summer of 2019.
The Wales international signed a mega deal at Juventus but has struggled with injuries throughout his time in Turin.
Ramsey has started just 24 Serie A matches in two seasons for the Old Lady.
Reports in Italy have linked Ramsey with a return to Arsenal ahead of this summer’s Euro 2020 tournament.
Italian outlet CalcioMercato claims talks have been held regarding a potential swap deal which would see right-back Hector Bellerin head in the opposite direction.
But football.london now claims there is no way Ramsey will be moving back to north London.
Arsenal are interested in other midfield targets, such as Wolves’ Ruben Neves and Brighton’s Yves Bissouma.
Speaking last week, Ramsey admitted his frustration at how his time at Juve has gone so far.
“It’s obviously been a very frustrating period for me over the last couple of years,” the 30-year-old told Sky Sports.
“I’ve picked up a few small niggly injuries which have been frustrating and I’ve not been able to get any consistency going.
“It’s been frustrating when you arrive at a new club and want to hit the ground running and show everybody what you’re capable of doing consistently.
“It’s always going to be difficult when you have these sort of little injuries that set you back a couple of weeks and then your rhythm is interrupted.
“And then you chuck in Covid as well which hasn’t helped.”
But when asked if he will be staying with Juve, Ramsey said: “Yeah, I’m a Juventus player.”
Foootball.london also claim Arsenal star Xhaka is closing in on a move away from the club.
Serie A side Roma want to sign the Switzerland international and a deal is nearing completion.
Xhaka’s exit could be the start of a major overhaul at Arsenal, with manager Mikel Arteta stating last month big changes were needed.
“The squad needs changing,” Arteta said.
“There were already a lot of changes in December, something that has not been done in years, but it tells us where we were.
“Things are going to have to change and the owners are going to back it up.
“Time is catching up right now. It’s a trend. It’s [been] years now that this has been happening.
“If the distance and the margins with the rest become too big, then it’s almost impossible to do it.”