The France right-back's contract is up in the summer of 2014, and a newspaper report suggested he could follow the exit route pursued in recent years by Samir Nasri and Robin van Persie.
Both players effectively forced moves elsewhere in the knowledge Arsenal had to sell or lose them for nothing 12 months later.
But Wenger is taking a tough line with Sagna, saying: "He is not free in the summer so he can only leave if we let him go. Our desire is to keep him and he knows it."
Sagna joined Arsenal from Auxerre in the summer of 2007 and has twice been voted into the PFA's team of the season during his time in the Premier League.
The 30-year-old, who openly questioned the club's transfer policy in September, suffered two broken legs last season but has fought his way back to start 22 games this term.
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