The pair worked together during Mourinho’s time at Inter Milan, and enjoyed some incredible success.
Zanetti was an integral part of the Mourinho team that won the treble of the Serie A title, Champions League, and Coppa Italia in 2010.
Chelsea have been linked with a move that would see the Argentine take on a player-coach role at Stamford Bridge.
But speaking after Chelsea’a 1-1 draw with Galatasary on Wednesday evening, Mourinho was keen to distance himself from the rumours, insisting the 40-year-old is likely to see out the remainder of his career at the San Siro.
“There was no offer for Zanetti,” Mourinho told Sky Italia.
“It is impossible to see [him] with another team that is not Inter.”
Chelsea have been linked with a number of defenders in recent months, with club captain John Terry’s contract expiring at the end of the season.
An offer of an extension is yet to be made, but Chelsea expect him to sign a new deal after a series of impressive performances in the heart of the Blues defence under Mourinho this season.