The Bundesliga outfit wanted to make a move for the defender but the proposed deal quickly collapsed because of the Brazilian's salary expectations
The veteran centre-back is currently a free agent having had the remaining two years of his contract with Inter cancelled by mutual consent.
Leverkusen flirted with the idea of bringing Lucio back to the BayArena but, according to Kicker, quickly discovered that they were not in a position to meet the former Selecao star's wage demands.
Lucio, who has 105 international caps to his name, spent three seasons with Leverkusen before moving to Bayern Munich in 2004.
The 34-year-old defender was previously linked with a move to Fenerbahce but the Turkish outfit denied any interest in his services and it is now being reported that he is on the verge of joining Serie A champions Juventus.