The Ghanaian has been linked with a move to the Bundesliga following a difficult start the the new season.
The Rossoneri lost their first two home games in Serie A, before losing their last game to bitter rivals Inter Milan.
Despite the poor start, Boateng said that he is fully committed to the club.
"I've heard the story that I'm off to Bayern, but there is no truth in that," Football Italia quotes the 25-year-old as saying. "It's just a rumour.
"I can say something very clearly and that is that I am happy at Milan and I am not ready to leave this club.
"I owe a lot to Milan and I'm not thinking about Bayern Munich or any other team."
Milan sit 11th in Serie A.