The ex-West Ham United boss was said to have spoken with Biancocelesti president Claudio Lotito after Reja had offered to resign on the eve of the club's Europa League clash with Atletico Madrid.
However, Reja was eventually persuaded into carrying on until the end of the campaign before eventually walking away from the post last week.
That immediately sparked speculation that Zola was back in the frame, but the Chelsea legend's representative insists that there has been no contact with the club.
“I want to clarify that neither myself nor Gianfranco have heard anything more from Lazio since February, when there was a chance of replacing Reja,” Fulvio Marrucco told Lalaziosiamonoi.it.
“Instead, I've been reading reports about meetings and a list of players Zola has proposed to the club, but I ask myself how is this possible given there hasn't been any contact.
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"In my opinion, the chances of him becoming Lazio's new coach are decreasing more and more with the passing of time.
"We are obviously always ready to wait and evaluate proposals but Gianfranco is certainly not disappointed."
Zola, who was capped 35 times by Italy during his playing days, has been out of work since leaving Upton Park in 2010.