The Gunners boss is facing a striker crisis with Olivier Giroud and Nicklas Bendtner sidelined with ankle injuries.
Giroud missed the 2-0 victory over Cardiff, which maintained Arsenal's place atop the Premier League table, while Bendtner sprained his ankle shortly after scoring the game's opening goal.
Reports claimed Wenger was prepared to lodge a £2million bid for Berbatov and Arsenal youngster Yaya Sanogo even tweeted a 'welcome to Arsenal' message to the Bulgarian adding: 'You could fire us to the title'.
But speaking ahead of his side's FA Cup third-round tie against Tottenham Wenger denied any interest in the former Manchester United striker, although appeared to keep his options open.
"Berbatov is a not a name we have considered, at the moment," he said.
Of the game itself, the Frenchman revealed Giroud is 90 per cent likely to miss out while Kieran Gibbs and Aaron Ramsey are definitely sidelined.
However, he will give a late fitness test to midfielder Mezut Ozil, who has missed the last three games with a shoulder injury, before finalising his line-up.