The Frenchman's future has been the subject of speculation on Tyneside this summer but Magpies boss Alan Pardew is determined to keep hold of the player.
Cabaye is set to start when Newcastle kick off their Barclays Premier League campaign at Manchester City.
Cabaye has made 73 appearances for the club since joining from Lille in 2011 and has become a firm fan favourite for his energetic box-to-box probing.
And Newcastle have wasted no time in rejecting a bid they regard as derisory from the Gunners - with Magpies chiefs valuing the player at at least twice that amount.
Pardew knows he can ill afford to lose Cabaye after a frustrating summer in the transfer market which has seen just one new arrival - on-loan QPR striker Loic Remy, who is currently sidelined with a calf injury.
- Sports & Recreation
- Alan Pardew
- Barclays Premier League