The 26-year-old is widely regarded as one of the best strikers in world football, leading to suggestions that Chelsea and Real Madrid were preparing offers for the Colombian.
However, Cerezo told Telemadrid: "If someone comes with the money and meets the clause, the player does not have to leave.
"I don't think this is a matter for discussion, it is an issue that is there. But Falcao is a very serious person, he is a man who knows what contract he has, what situation he is in.
"He is in a team that wants him, he is delighted and above all he scores goals. He is very pleased and happy here, and until proven otherwise he will remain Atletico Madrid."
Falcao has scored 11 goals in seven games this season.