Batshuayi has scored 19 goals in 34 appearances to help fire Liege to the top of the Pro League.
According to reports, Spurs are set to make an offer of about £10million for the 20-year-old starlet in the summer.
But Duchatelet, who also owns Championship club Charlton, says Benfica are favourites to land him.
"There's another European giant interested in Batshuayi", he told La Derniere Heure. "There's no interest from Tottenham as far as I know.
"I've talked to the strong man of Spurs (chairman Daniel Levy) on Thursday and he has confirmed to me that they don't want to sign Batshuayi.
"Benfica, though, have contacted us. They have confirmed they want to sign Batshuayi."
Arsenal, Everton and AC Milan are also been linked with a move for the player.