Hart is currently spending the season on loan at Torino.
The England international left Manchester City in the summer after falling down the pecking order under Pep Guardiola.
Despite his replacement Claudio Bravo struggling, Hart is expected to leave the Etihad permanently at the end of the season.
Premier League stats: Most saves so far in 2016/17
Wed, February 8, 2017
Express Sport reveals which Premier League goalkeepers have made the most saves this season (as of 08/02/17)
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Which Premier League goalkeeper has made the most saves so far this season?
Arsene Wenger has rejected claims Joe Hart could join Arsenal
Joe Hart remains England's No 1 goalkeeper
The Daily Mail claimed the 29-year-old was on the Gunners' radar to be their No 1 goalkeeper next term.
But Wenger has dismissed those claims, insisting Petr Cech, David Ospina and Wojciech Szczesny are good enough for him.
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“I have three world-class goalkeepers and I am happy with what I have”, he said.
Petr Cech's form has waned in recent months
Cech has come under scrutiny after a series of erratic performances in recent weeks.
But it appears the Czech Republic international now looks set to remain as the club's first-choice keeper.