The Swiss international has yet to feature for the Gunners in the Premier League this season.
Despite dismissing talk of a transfer, Flavio Ferraria refused to rule out a switch to Serie A in the near future.
"There has been absolutely no contact with Roma and I don't know where these rumours have come from," he told calciomercato.it. "I met Johan recently, but we did not talk about Roma because there's really nothing to say.
"There is no real possibility that he will leave Arsenal as he is contracted to them until 2015. However, we will evaluate the current situation in January.
"Obviously he would like to play in Italy because we have discussed this several times before, but he hasn't a preference for any specific club."
Djourou signed his first professional contract with the Gunners in 2004 following a spell in their youth system.