The Arsenal man is reported to be a target for Bilbao following Ander Herrera's move to Manchester United.
Arteta moved to the Emirates Stadium almost three years ago from Everton and the 32-year-old has been a mainstay in Arsene Wenger's starting line-up.
And his representative, Inaki Ibanez, has rubbished talk of a return to his homeland as he enters the final year of his contract.
Ibanez told El Mundo Deportivo: "This is totally false. Mikel has no interest in leaving Arsenal."
Playmaker Arteta started his career as a trainee at Barcelona and also spent a season with Bilbao's rivals Real Sociedad.
'He’s going to lead the evolution of who we are as players and as a nation. He's going to take that to a new level': Mauricio Pochettino exciting USA national team players with approach
'Our goal is to win the Premier League, maybe it's not with me' Ruben Amorim gives frank view of Manchester United's revival prospects
