The newly-promoted Eagles were believed to have tabled an offer for the 22-year-old, who has also been linked with SPL champions Celtic.
Vitoria president Julio Mendes said earlier this week: "Our obligation is to obtain the maximum profit for the club and if Palace offer more money it would be an error not to study the offer."
But Palace co-owner Steve Parish has insisted that no contact has been made with the Portuguese club regarding a bid for the forward.
"We haven't made an offer," Parish told the Croydon Advertiser.
"It is a total fabrication and we have never heard of him or spoken to his representatives."