It had been suspected that manager Arsene Wenger would let the player go after an understated season. He lacked first team appearances for the Gunners and was loaned out to West Bromwich Albion in the second half of the season, taking two goals from eight league appearances.
However, agent Eduardo Hernandez assured ESPN Radioformula that the Mexico international is staying put.
"I have had eight conversations with Arsenal, the most recent was last Friday, and Carlos is an Arsenal player, he will stay at Arsenal and is not for sale,” he explained.
"The process with Carlos is a little bit slow. Arsene Wenger is an extremely demanding coach, he sent him on loan for six months to West Brom not with the results he wanted, but, nevertheless, everything is going very well."
The 22-year-old joined Arsenal in 2008, since which he has scored 11 goals in 62 appearances.