Reports had circulated that the Spanish champions were looking at the 19-year-old, who made his debut for Germany Under-21s in midweek.
However, his representative, Gerd vom Bruch, says that the Catalan giants are exploring several options and that his client has is going nowhere for the time being.
"The fact is that Barcelona scout for many players. He has a contract until 2015 with Borussia, with no exit clause.
"The lad is just 19 - and will earn his merits at Borussia first."
Reports in Germany that Ter Stegen could earn a place in his country's squad for Euro 2012 are rife, and Joachim Low has conceded that he has been impressed by his progress.
"In all our observations, he has positively excelled. He is in his early years, but is very confident, has tremendous charisma. We have Marc in mind."
Borussia Monchengladbach travel to Nurnberg on Sunday as they look to keep up their unlikely title challenge.
Since November, Goal.com has been publishing exclusive extracts from Graham Hunter's highly-anticipated new book, 'Barca: The Making of the Greatest Team in the World'. The very last extract looks at Andres Iniesta's risky return from injury in the 2009 Champions League Final and how he was described by Wayne Rooney as the 'best midfielder in the world'. Don't miss it!