Arsenal tried to sign the Moroccan in the summer and are expected to try again in January.
West Ham and Sunderland are also reportedly interested in the Bordeaux star who is out of contract in the summer.
“I have no news about that (Arsenal interest in Chamakh),” Bordeaux chairman Jean-Louis Triaud told L’Equipe.
“Anyway, for us it is out of the question.
“Marouane is such a decisive player while we have important challenges in Le Championnat and Champions League.
“If we miss our aims because he was sold, we would lose money too. Anyway we won’t do anything against the wishes of Laurent Blanc [Bordeaux coach].”