Reports emerged this week that Steve Komphela was looking to rope in the 54-year-old as one of his assistants.
However, Letsoaka said he has no intention of joining Amakhosi, adding that he has never been in talks with anyone from the Naturena-based club.
"Serame Letsoaka is not going to Chiefs. Serame Letsoaka is not talking to Chiefs, and he has never talked to Chiefs," Letsoaka told The Citizen.
Letsoaka added that the reports are closing doors for him to find a new club, as many teams may think that he's already talking to Chiefs.
"You know these reports are actually blocking other teams from approaching me for a job because they think I am talking to Chiefs," Letsoaka concluded.
Chiefs appointed Patrick Mabedi as Komphela's assistant on a two-year deal following the departure of John Paintsil from the club three weeks ago.
Letsoaka and Komphela were teammates at the then Qwaqwa Stars (now Free State Stars) between 1989 and 1993.