A club spokesperson confirmed that talks took place between the two clubs to sign the 30-year-old but the deal never happened.
The move comes on the back of the club's failed moves to sign former world player of the year Ronaldinho and former England captain David Beckham.
The spokesperson told the Lancashire Evening Telegraph: "We did talk with Sevilla about Fabiano.
"It was after we did not sign Ronaldinho, but we are not interested in signing Fabiano now. We want to sign a young striker.
"But there are no plans for transfers now. We still have more time."
Fabiano, who starred for Brazil in the World Cup in South Africa, has been linked with a move to the Premier League for the last few seasons, with Tottenham and Manchester United interested in the past.
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