The Gunners are being strongly linked with a goalkeeping swoop this summer, with Adler among the names being tipped to move to the Emirates.
This has now prompted Hamburg general manager Frank Arnesen to deny any talks with Arsenal.
"It's obviously a fact Arsenal FC is on the search for a goalkeeper. But thus far no-one from Arsenal FC has been in touch with our club," he told Bild.
Adler himself admits that he is flattered to be linked with Arsenal.
"I am under contract with Hamburg, but for every professional it will be a pleasure and honour to get linked with a club like this," Adler, who has four years left on his current deal, said.
"This is flattering. It will absolutely hand me more motivation, I will not lose my focus."