Speculation has suggested that Real and Chelsea are both pondering summer moves for the Brazil international.
However, the 20-year-old's representative Gilmar Veloz maintains that Pato has no intention of leaving the San Siro, where he is under contract until 2014.
"Chelsea and Real? These are only market rumours," Veloz told calciomercato.it.
"There is nothing true. He has a deal with Milan and he feels good in Milan."
Veloz also expressed his pride at continuing to represent Pato after some reports claimed he had changed his agent.
"I'm happy this has been cleared up. I'm Pato's agent and I stay with him for several years," he added.
Pato is currently sidelined with a thigh injury but is expected to be back in action in around 10 days.