The Amsterdam side had been in negotiations to sign the 21-year-old winger, but had offers turned down by his club, whereto he is bound by a contract until 2013.
"Ajax are not in the picture. Negotiations were cut off and never resumed," Raiola told Dutch source AD.
Heerenveen technical director Johan Hansma nonetheless has admitted that the Netherlands international will most likely ply his trade at another club next season.
"We're in talks with PSV and have accepted that Luciano will leave," he said.
Narsingh scored 12 goals and gave 26 assists in 39 appearances in all club competitions last season, and his talent has been recognised outside of the Netherlands as well. Goal.com can confirm that Fulham are prepared to make a move for the versatile player, who can operate on either wing.
Narsingh made his professional debut in 2008. He has spent six years at Heerenveen, following spells at Ajax and AZ during his youth.