A report in The Mirror earlier this week claimed that the Gunners were confident of luring the 43-year-old from the Westfalenstadion should Wenger bring an end to his two-decade long association with the club.
Tuchel revealed on Friday that he was unaware of the links, while Watzke has himself rubbished the report and insists that contract talks with the former Mainz 05 boss will likely open in the summer.
"It is a fact that nobody from Arsenal called us. We're taking about completely fictional stuff here," he is quoted as saying by The Sun.
"Some day in May we will sit down and analyse this season. He is still under contract here for another year. That's why I don't understand all the speculation."
Tuchel, who joined Dortmund from Mainz in June 2015, recently claimed that he is "relaxed" over his contract situation.