The Gunners attempted to sign Draxler during the January transfer window, and even sent a delegation out to Germany to try and agree a deal.
However, a deal could not be agreed, with reports at the time suggesting the Gunners had offered Podolski in part exchange.
The 28-year-old – who has managed just five Premier League games this season – was keen to praise his international teammate, but insisted he has not spoken to him about the prospect of a move to the Emirates.
“Every top player is of interest to Arsenal – and Draxler is certainly one of those,” Podolski told Bild.
“But I do not know what the [club bosses] are planning.
“I only know that a swap deal involving me and him was never a consideration.
“I am in contact with Julian. He is a great guy… but we haven’t spoken about a move.”
It remains to be seen as to whether Arsenal will attempt to sign Draxler again in the summer, with the attacker reportedly having a £37million buy-out-clause in his current Schalke contract.