The Eredivisie giants have been linked with a move for the 28-year-old, but a transfer seems all but impossible for financial reasons
Afellay has been linked with a move away from Barcelona ahead of the 2014-15 season and a number of recent reports claimed that Feyenoord are interested in bringing the 28-year-old back to the Eredivisie after he began his career with PSV Eindhoven.
Nevertheless, Rutten has stressed that a move to Feyenoord is highly unlikely at this stage.
"Ibrahim is welcome but I cannot imagine that we can afford players of his calibre," the 51-year-old coach told RTV Rijnmond.
"Of course, I would like to sign him, but I would also like to sign [Lionel] Messi, Cristiano Ronaldo and Thiago Silva. You have to stay realistic, though. We are working within a certain budget."
Afellay has only managed 21 appearances in La Liga since joining Barcelona for £2.4 million (€3m) in January 2011 due to a string of injuries, and his contract at Camp Nou runs out in 2015.
The versatile midfielder spent the 2012-13 campaign on loan at Schalke, but a recurring thigh problem prevented him from making an impact at the Bundesliga side.