The 35-year-old has been without a club since leaving Besiktas in November 2011, but has turned down the opportunity to continue his career at El Monumental.
The 35-year-old left Besiktas following a contractual dispute in November 2011, and is yet to find a new club.
However, he has now admitted that he received an offer from the Buenos Aires giant, which is looking to rebuild its squad ahead of its return to top-flight soccer.
"I'm not going to play for River, and, honestly, I don't want to play in Argentina," the 14-cap Spain international revealed on his Twitter page. "But I'm grateful for the interest."
Guti joined Madrid as a youngster in 1986, and made over 500 appearances for the Liga giant, before moving to Inonu in 2010.
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