Speaking to Beinsports channel, the Frenchman said the reports in the British press are "fake news."
Wenger said last week he has reached a decision on whether he will stay at the Premier League club beyond this season, and will announce it publicly "very soon."
The 67-year-old Wenger, who has been in his position since 1996, is under increased pressure after Arsenal's 3-1 loss at West Bromwich Albion that saw the team drop to sixth place. It was Arsenal's fourth loss in five Premier League games.
"It is a false rumor. That is what you call fake news," Wenger said when asked about the reported offer from PSG. "I formally deny it. It is not true."
Wenger's contract with Arsenal expires at the end of the season.
"I know well the owners, but I feel always I remained loyal to Arsenal football club because I think it's a club that has the qualities I love," Wenger said in September.
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