The midfielder has recently been linked with a move to the Ligue 1 champions, but the Stadio Olimpico side say he is not for sale
A number of recent reports suggested that PSG are keen to lure Hernanes, 28, to the French capital ahead of the 2013-14 campaign, but a transfer seems to be out of the question following Lotito's comments.
"We will not sell Hernanes. [PSG director] Leonardo has not contacted me to discuss a transfer and they have not made an offer yet, but it's clear now how we feel about this," the Lazio president was quoted as saying by Corriere dello Sport.
"Lazio will not let go of Hernanes and the same can be said for our other stars. I am talking about [Senad] Lulic, [Federico] Marchetti and [Antonio] Candreva.
"Our only thought is to strengthen the squad even further ahead of next season."
Hernanes has a contract with Lazio until the summer of 2015.