The England Under-21 star spent last season on loan at Leeds United and was one of the few bright points in an otherwise disappointing campaign which saw the West Yorkshire club relegated.
Spurs and Liverpool have both been strongly tipped to make a move for the young winger, but the Nottingham-born starlet wants to make the breakthrough at Arsenal.
"My complete focus is on returning to Arsenal," he told skysports.com.
"I want to go back and have a good pre-season and prove to Arsene (Wenger) and the rest of the management team how committed to the club I am.
"I want to show how much I want to play for Arsenal."
Arsenal have just trimmed their squad down by releasing 17 players and with the likes of Ray Parlour and Freddie Ljungberg being linked with moves away form the club, Pennant looks likely to figure prominently over the coming season.
Meanwhile, Icelandic starlet Olafur-Ingi Skulason has agreed a new contract with the club.