Manchester United and Arsenal have both been linked with swoops for the 26-year-old this summer, who rejoined his boyhood club from the Gunners in August 2011.
The Red Devils are understood to have had a £26m bid rejected by the La Liga champions last week, while Arsenal have been touted as another possible destination for the playmaker, who saw his first-team opportunities at Camp Nou limited last season.
However, Wenger has revealed that the Spain international has opted to stay in Spain for “one more year” – but says the Gunners would be interested in re-signing the midfielder in the future.
“At the moment, Fabregas has decided to stay one more year at Barcelona,” Wenger told the press.
“We have the clause in the contract so we would be on alert but, at the moment, that’s not something we’re after.”
Fàbregas has scored 29 goals and made 32 assists in 96 appearances for Barcelona after completing a £35m move to Camp Nou in 2011.
MORE: The latest football news