The 19-year-old joined Paris Saint-Germain for £166million instead and since then has become one of football's biggest stars.
Mbappe received France Football's Kopa Trophy yesterday for world's best under-21 player after becoming PSG's key player alongside Neymar and winning the World Cup with France this year.
The Frenchman has revealed that before signing for the Parisians he snubbed Arsenal who were in the mix for his signature.
But the French international has said Wenger showed class after his rejection and did not hold a grudge when he chose a different career path.
He told France Football after the Ballon d'Or ceremony: "A little while ago, before I signed for PSG, we were in contact in 2017.
"I chose a different direction but he wasn’t annoyed at me.
"He was a gentleman about it and wished me good luck."
Mbappe was full of admiration and respect for Wenger's career.
He said: "He is a real French football monument who has left Arsenal.
"I have not seen many people in this world being viewed in such a unanimous way.
"When the entirety of Europe gets on its knees in front of him to celebrate him, that certainly means something."
Mbappe also had some kind words for the current Arsenal manager, Unai Emery, who was in charge at Parc des Princes when he moved to Paris.
He said: "I do not forget that he helped me adapt to this big team, which was not easy.
"I have a lot of respect for this man even if he did it not succeed in Paris.
"He won titles before and I hope he wins them again after.
"I sent him a congratulatory message when he signed for Arsenal, and now, I am following from afar."
Mbappe has been in terrific form this season, scoring 14 goals and adding seven assists for the Parisians in all competitions so far.
Beforehand, he had played a significant role in France's World Cup triumph, netting four times including a brace in the dazzling performance against Argentina.
His development has reportedly even made PSG open to selling Neymar who is thought to be unhappy in Paris – and thinks about a Barcelona return.
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