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Guendouzi, 21, has been on loan with Hertha Berlin since last October where he has made 19 appearances for the Bundesliga club.
The French midfielder was a regular starter with the Gunners under previous boss Unai Emery but failed to make an appearance for Arteta's side in the opening weeks of the season prior to securing a temporary move away.
When asked if his Arsenal career was over due to an apparently strained relationship with Arteta, Guendouzi was emphatic in his response.
"No, not at all," he said.
"I am focused on my season at Hertha Berlin. Then, we will make a point with my agent and the people of the club to sit down and discuss the future. I am still an Arsenal player."
Guendouzi joined Arsenal from Lorient in 2018 and has made 57 Premier League appearances for the Gunners, registering just one assist and no goals in the competition.
In those games he attempted a total of 75 tackles, the third-most among Arsenal players across 2018-19 and 2019-20, while his 263 duel wins over the same period was only bettered by four of his team-mates.
His contract with Arsenal expires at the end of next season and he acknowledged his long-term future will be at stake when he returns to the Gunners.
"This summer will be a decisive moment," he added.
"Could I come back to the club with Mikel Arteta on the bench as coach? Yes, of course. I will be with Arsenal for another year.
"I am here to move forward. When I played for Arsenal, I have always given everything for this club, for these fans, for the team, for the staff. I will work hard for the jersey as usual."