Lewandowski has been touted as a potential striker alternative if Wenger fails to sign Real Madrid's Karim Benzema.
And it had been reported that the club were ready to make a £35million offer to secure his services.
However, the Poland international insists his best is yet to come at Bayern.
"I don’t believe the fans have already seen the best of me. I can, and will, be even better this season, I’m certain of that," Lewandowski told the official Bayern website.
"It’s not always easy of course as there are so many factors involved. It’s vital we play well as a team. That’s the most important thing.
"It would be useless to me personally if I was to finish top scorer but we only come second in the Bundesliga and go out of the Champions League in the last sixteen."
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