The German star has been a rumoured target for the Premier League pair for some time, with talk of January moves for his signature having populated gossip columns on an almost daily basis over the course of the past few months.
United have been linked with a release clause-triggering £30m offer for the 24-year-old of late, while Arsenal boss Arsene Wenger is thought to be a massive fan of the skilful and pacey wide-man.
However, Reus says that he is more than happy with Dortmund, and that a January move is not on his mind:
“I have a contract with Borussia Dortmund and I am happy to be here,” he is quoted by the Daily Star.
“All I can say is I can not think of a transition. I’m focused on BVB and everything else is something for the future.”
Dortmund lost star man Mario Gotze to bitter rivals Bayern Munich during the last transfer window, and are said to be desperate to avoid watching another one of their top talents exit the Westfalenstadion this month.