Les Bleus toiled to a quarter-final defeat at the hands of eventual winners Spain in Euro 2012, and after the disappointing campaign Laurent Blanc opted to step down from the national post.
The French Football Federation are thought to be keen to name a replacement in the near future, with Wenger initially a name that was mentioned.
However, the experienced trainer has admitted that he has a job to do at the Emirates Stadium.
“There are a lot of names. But me, I will be very busy with Arsenal where my contract still runs for two years,” he told Telefoot, translated to English by The Daily Mail.
Didier Deschamps is the early favourite for the post with the European nation, with Paul Le Guen and Luis Fernandez also in the reckoning.
By Gareth McKnight