The Nou Camp playmaker hit the headlines on Tuesday when revealing that he fancied the idea of teaming up with former boss Jose Mourinho at Chelsea.
Their Porto team won the Champions League in 2004, as well as dominating the domestic game in Portugal.
But president Juan Laporta revealed that there is no way Deco will be leaving Catalonia this summer.
He told Spanish daily Marca: "I can confirm what our technical secretary Txiki Beguiristain said: Deco is not for sale. He is a player who can contribute much to the team and he is not for sale."
Deco himself insists he is currently happy at the Nou Camp, but admits he would seek an exit if he was no longer wanted by the Catalan giants.
"I have always said that," Deco said in Wednesday's edition of Spanish newspaper El Mundo Deportivo.
"I am a professional who has chosen to be here because I love Barca, but life always goes on.
"The day could arrive when Barcelona do not want me, but it seems that that day is not yet here.
"I have a contract and I want to fulfil it because they want me here and they are happy with me."
Regarding the comments from Laporta, Deco added: "This leaves me very happy. If the club do not want to sell me, the coach wants me and I want to continue, then that is how it will be - to fight to play and help Barca return to being champions.