Ozil and Sanchez, who are both in the final year of their contracts, have been offered £250,000 per week and £300,000 per week respectively to stay at the Emirates.
The pair, who starred in Arsenal's 2-0 derby win over Spurs last weekend, are set to stay at the club, according to Spanish international Monreal.
"The feeling is that they will continue [at Arsenal]," Monreal told IBTimes UK. "At no time have we talked about the possibility of them leaving. Not at all.
"They are committed to the group and we will see what happens. I can't say much about it. It does not depend on me.
"If the club want them to stay beyond December, they will follow. Yet, I do not know the club's intentions. It is other people who are the ones who have to make the decision."
Gunners boss Arsene Wenger has set a deadline of December to progress with contract talks. Ozil has been linked with Manchester United, while Sanchez was close to joining Manchester City on deadline day in the summer.