The Gunners have been linked with a summer swoop to sign the Spain international as a potential replacement for Granit Xhaka.
According to Italian journalist Raffaele Auriemma, Ruiz isn't keen on joining Arsenal as he waits for other offers.
Speaking on the Club Napoli Night, he said: "I believe that Fabian Ruiz will leave Napoli at the end of the season.
"There's been a proposal from Arsenal.
"But I understand that the player doesn't want to join the Gunners.
"The midfielder is waiting for other offers, be they from Paris Saint-Germain or Real Madrid."
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