The 29-year-old joined the Gunners from Fenerbahce last summer, but has failed to make the expected impact at the Emirates.
Reports in Brazil had claimed that Botafogo were keen on signing Santos this summer.
Botafogo’s vice-president Andre Silva told Lance: “Andre [Santos] is our friend but he is not coming to Botafogo at this time”.
Santos’s agent Carlos Leite added: “There is zero chance Andre [Santos] could join Botafogo now.”
