The midfielder has been a regular benchwarmer for Arsenal as of late, with his lack of first-team football prompting suggestions he could leave the club this month.
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SunSport understands Chelsea are one of several teams interested in snapping up the England international, who Arteta insists isn’t for sale.
When pressed about potentially selling the 23-year-old, the Spaniard said: “That was never part of our plans.”
Arteta, however, will be willing to hear Smith Rowe out if he decides he wants to move on to pastures new.
The Gunners chief said: This is a two-way conversation all the time with players.
“I love listening to them about how they are feeling, what is the best thing for them, or what they want to do.
“Because you really have to be aligned with them and how they are feeling and they have to feel important.
“This is still the biggest part of the season to play now and we have to be patient, and he will have his chances.”
Arsenal ended 2023 with consecutive defeats to West Ham and Fulham, losses which raised questions over the strength of their squad.
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But Arteta has hinted winter reinforcements WON’T be on the way this month.
He admitted to Sky Sports: “That’s a possibility.”
He added: “Unfortunately, Jurrien [Timber] has a very long-term injury.
“He’s doing really well but is still far from training with the team.
“It’s what we have, with Tomi [Takehiro Tomiyasu] having to leave.
“We’re open for the transfer market, but the emphasis is of making the most of the players we have.
“We’ll work with the club to understand if there are any possibilities, and whether we have any good options.
“But first of all, we will focus on the players we already have.”
Arsenal will be back in action this evening, welcoming Liverpool to the Emirates for their FA Cup third-round clash.