Nerazzurri president Massimo Moratti already revealed earlier this week that the Serie A side had accepted the Istanbul side's offer, and a number of reports from Turkey on Saturday claimed that the transfer was a done deal.
However, the Super Lig champions have insisted that they are yet to agree terms with the 28-year-old, but said that talks are continuing.
"The transfer of Wesley Sneijder has been agreed between Inter and the club and negotiations are ongoing with the player," a statement on the club's official website read.
"This has been brought to the attention to the public."
Sneijder was frozen out at the Giuseppe Meazza side over a contract dispute, and has not played since September.
The midfielder's agent said on Friday that Sneijder will consider incoming offers in the next few weeks before making a final decision on his future.