The 25-year-old Uruguayan striker is one of the most sought-after players in Europe at the moment, having scored a scintillating 80 goals for the Azzurri since signing from Serie A rivals Palermo in 2010.
Gunners boss Arsene Wenger has been credited with an interest in bringing Cavani to the Emirates Stadium in January, with recent reports suggesting the frugal Frenchman is finally ready to spend some big-money in the upcoming transfer window.
Manchester City have also been linked with a move for the Napoli forward, but any chances of the South American moving to the Premier League in the New Year have been effectively dashed, after he reaffirmed his commitment to his current club.
"My future is the present," Cavani told Il Mattino. "I'm happy at Napoli, my teammates are fantastic, the fans are very passionate and my family is settled here.
"It's all fantastic - I'm happy I came here."
Arsenal already spent more than £20million on the acquisition of Lukas Podolski and Olivier Giroud, as Wenger looked to fill the void left by the departed Robin van Persie, but could still look to add another attacking option in January.