Current boss Massimilliano Allegri has come under huge criticism for the San Siro side's poor performances in Serie A this term, and Spalletti has been repeatedly linked to take over.
However, the 53-year-old has revealed a move to the San Siro is not on his mind.
“I am too old to coach Milan,” he admitted in a press conference.
"I want to continue in Russia anyway. I have a good relationship with the president here and have only just renewed my contract. I would, however, like to coach in England in the future.”
Although he ruled out a move to the Rossoneri, he gave a compliment to one of their star players this season, Stephan El Shaarawy.
Spalletti said: "El Shaarawy is a beautiful player. I became aware of him when he was offered to me back when I was at Empoli in 1998.”
The Italian has been in charge of Zenit since 2009 and has won the Russian Premier League twice.