Liverpool boss Rafa Benitez was understood to be considering bringing the former Manchester United man back to England from Villarreal.
It has been suggested that Benitez has turned to Forlan after being priced out of a move for Carlos Tevez.
But Forlan's agent Daniel Bolotnicoff says he has not had any offers from Liverpool.
"There has not been any offer from Liverpool and it's very difficult to talk about what might happen when there isn't an offer there, but things can change every day," Bolotnicoff told The Times.
"If he received a very good offer then he will think about it, but it will also depend on whether Villarreal are happy."
Forlan - who has three years left to run on his current deal - has recaptured his best form at Villarreal after arriving in the summer of 2004 following a difficult two-and-a-half-year spell at Old Trafford.