The Bavarians are believed to be considering a summer swoop for the 20-year-old attacking midfielder, who has been in impressive form in the Bundesliga this season, despite Hamburg struggling in a relegation battle for much of the campaign.
Calhanoglu claims talk of Pep Guardiola's interest motivates him to keep performing well, but insists he is fully focused on helping HSV secure their top-flight survival.
He told Sky Sports News: "This [Bayern's interest] motivates me and it makes me proud. But I am not thinking about that right now. At the moment the focus is on avoiding relegation with HSV."
Hamburg's CEO Carl-Edgar Jarchow has previously made it clear he has no intention of selling Calhanoglu, despite the club struggling on the pitch and in dire need of a financial boost in the close season.
"We are not in these talks [with Bayern]," he told Bild. "We do not want to sell Hakan. He is a player with great perspective. It would be a step back for our club to part ways with these kind of players."
Calhanoglu, who scored an incredible 40-yard free kick against Borussia Dortmund earlier this season, has also been linked with Premier League giants Chelsea, as well as clubs in Italy.