There had been speculation that the Czech international, who moved to Stamford Bridge from Rennes in a £7million deal in June 2004, was a transfer target for Gunners boss Arsene Wenger.
Wenger is said to be keen to improve his goalkeeping options at the end of the season, with Lukasz Fabianski having recently ousted Wojciech Szczesny from the starting XI.
But the 30-year-old former Sparta Prague man has dismissed the reports out of hand and insists he "can't even imagine" the thought of playing for the Blues' London rivals.
"It is an interesting piece of news but it is such speculation that I think it's not even necessary to comment on it," Cech told isport.blesk.cz.
"I know of nothing, nobody has contacted me and, to be honest, I can't even imagine it.
"I don't even normally notice such rumours. But when it does get to me, I naturally look at it to know what to say about it later.
"There are players who do read newspapers. Some players read match reports to know what was written about them and where.
"I don't do this, I don't read newspapers because of such things. I don't take rumours like this seriously."