The 29-year-old's future at the Etihad Stadium appears all but over after he was shipped out on loan to Torino by manager Pep Guardiola last summer.
When asked about the prospect of signing the England custodian, the German told a press conference on Thursday: "We always think about the squad and goalkeepers. Is it about Joe Hart? In this specific case we can talk about it.
"He's a fantastic goalkeeper. The highest quality, but we have the highest quality goalkeepers. It's not for us nor in the future. We have these two strong keepers."
Hart has two years left on his Man City contract but his parent club are reportedly looking to sell him this summer at a valuation of around £15m.