Brandt has long been linked with a move to the Allianz Arena and recent reports suggested he will join Bayern at the end of the 2017-18 campaign, when a clause in his contract will allegedly make him available for a fee of €12.5 million.
Nevertheless, the 20-year-old's representative has made it clear no decision has been made on his long-term future just yet.
"It is fake news that Julian has agreed terms with Bayern," Jurgen Brandt told Kicker.
"Julian has never been in the situation where he had to - or wanted to - make a decision on his future."
Brandt joined Leverkusen from Wolfsburg in January 2014 and has since developed into a key figure at the BayArena.
The Germany international's current contract with Bayer is due to expire in 2019.