The Greece international had been linked with a move to Massimilano Allegri's side, following the departure of key centre-back Thiago Silva to Paris this summer.
The 20-year-old's representative, however, has explained that his client is happy with life in the Bundesliga and has no immediate plans regarding a transfer to Italy.
"The rumours are a strange one to me," he told calciomercato.com. "He has only just signed until 2016 at Schalke.
"Maybe the clubs have contacted each other directly, but all I can say is that at the time of signing, Schalke and the player were completely satisfied.
"The boy is happy at the club and his family are entirely settled in Gelsenkirchen."Koutsoliakos also lavished praise on the Greek centre-back, saying that a move in the distant future would be possible.
He said of Papadopoulos: "In terms of his age, Kyriakos is one of the best defenders in the world, so it is obvious that other clubs may be interested, but we are not thinking of a move.
"Maybe one day we will go and experience another league, but not now."