There has been claims Atletico are sizing up the Uruguayan as a replacement for their sought-after striker Radamel Falcao.
Falcao has been at the centre of much transfer speculation with European champions Chelsea reportedly keen to bring the prolific frontman to Stamford Bridge.
That has prompted speculation that Atleti have already begun their search for a replacement, with Napoli striker Cavani apparently high on their wish-list.
But Cavani's agent, Pierpaolo Triulzi, has denied any contact has yet been received from the Spanish high-flyers.
"If Atletico Madrid want to pay his 62m euros release fee then they can have their say, but there has been no contact and we don't know if they want to buy him," he told Marca.
"We don't know what will happen in the future, but the player is very happy where he finds himself right now.
"There have been a lot of offers for him in the past, but Napoli didn't want to let him go and got him to sign a contract extension instead."
Falcao has starred for the capital club so far this term, helping them to second place in the Primera Division with 10 goals so far.
However, the Colombian's pivotal role has led to claims Atleti rely on him too much, but Simeone disagrees, pointing to the fact they have won twice during his three-game goalless run.
"We've scored in almost every game," he said.
"Arda Turan has three goals and others are doing well also. That we are not so dependent on Falcao is fantastic."