The Colombia international started four of his country’s games at the World Cup and has been linked with a move to Goodison Park.
Reports had claimed that Everton had made an approach for the 28-year-old and had agreed a four-year contract with Sanchez.
However, Sepulcre has denied receiving a bid from Everton and that Sanchez is equally unaware of any interest from the Premier League club.
"We have no knowledge of any offer from Everton by Carlos Sanchez,” Sepulcre told a press conference.
"Moreover, not even the player, who is on holiday after playing in the World Cup, has contacted us to say something about it.”
Sanchez was previously in talks regarding a move to England two years ago after being a target for Bolton, Reading and West Ham after his contract at Valenciennes expired.
He eventually signed a new deal at Valenciennes before joining Elche 12 months ago and he helped the club to retain their place in La Liga.