The Celta Vigo striker was touted as a possible target for the north London club in the winter transfer window as Arsene Wenger considered bolstering his attacking options at Emirates Stadium.
However, a transfer to England failed to materialise for the striker, who also said that he had offers from China, Russia and Dubai.
Speaking to Radio Marca, Nolito said: “In December I had offers from England, China, Russia, Dubai.
“But I’m happy at Celta and I want to play at the Euros.
“The Celta president told me that he wouldn’t sell me. I said to him that’s just fine by me.”
Arsenal are expected to be busy in the summer transfer window as Wenger looks to bolster his squad ahead of the 2016-17 season.
The Gunners are currently third in the Premier League table and eight points behind leaders Leicester after their 2-2 draw with Tottenham at White Hart Lane last weekend.
Arsenal, who finished third in the table last term, have not won the title since their unbeaten triumph in the 2003-04 season.
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