The striker, who joined Arsenal from Auxerre back in 2013, has struggled since his move to north London.
He helped the club win the FA Cup in May 2014, but has only made 11 Premier League appearances during three years with the Gunners.
The 23-year-old has spent the majority of his time in north London on loan, having spells at Crystal Palace, Ajax and Charlton.
Garry Monk was keen to take the 23-year-old on another loan to Leeds for the rest of the season.
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However, the Sun claim Wenger blocked the striker’s move to the Championship club.
The report claims the Frenchman plans to use Sanogo at the Emirates this season as an alternative to Olivier Giroud and new-boy Lucas Perez.
Giroud is still yet to return to full fitness following his exploits with France at Euro 2016, while Perez could take time to adapt to the Premier League after his £17million move from Deportivo La Coruna.