The 27-year-old has been the subject of transfer speculation after enjoying a superb season for Marcelo Bielsa’s side, and reports indicated that Roberto Mancini had considered a bid of around £30 million for the striker.
But Llorente has hit out at the reports claiming he is on his way to City, insisting no deal is in place at the moment.
"Newspapers have to sell, but the truth is that there is nothing with Manchester City,” he told Cadena COPE.
|8/1||Athletic Bilbao are 8/1 with Paddy Power to beat Barcelona in the Copa del Rey final.|
"I have always said I'm very well here in Bilbao.”
Llorente has netted 28 goals in all competitions this season, helping fire Los Leones into two cup finals.
Bilbao face Barcelona in the Copa del Rey final on May 25 and Llorente is hoping for silverware after their disappointing Europa League final defeat to Atletico Madrid.
"We hope we can make the match we're looking for and get the desired title,” he said.