The France Under-20 international has established himself as a regular in Ligue 1 in his first two seasons, but Wolfsburg were believed to have been close to tempting him into a move to Germany.
Zouma had entered talks with Wolfsburg regarding a possible switch, but Allofs says that a deal for the 18-year old is not on the cards.
"We have been in touch and we were into negotiations, but he will not be on the move this year. That is a fact," he told German sports magazine, Kicker.
"We had been in a good position; we were close as I was having a personal conversation with the player regarding a move."