Reports have claimed that Danilo is among the options being considered by Arsene Wenger to replace Bacary Sagna, who has confirmed he is leaving Arsenal on a free transfer.
However, Danilo is prepared to leave his future in the hands of Porto and the right-back will wait to see if there are any offers to leave.
"I'll say what is usually said, I am contracted until 2016," the 22-year-old told ESPN Brazil.
"I am playing at Porto and have been playing well, which makes you get linked with top clubs.
"But there is a big difference between that and an offer that Porto accepts. I am happy at the moment and I am prepared to return to Porto.
"If something good for everyone comes along, we'll sit down, but for now it is just speculation."