Inter have been strongly linked with the signing of the Brazilian in the transfer window, but Lotito said that there had been no discussions between the clubs.
"Have Lazio demanded £16m for Hernanes? This isn't something worth talking about," he told Calciomercatoweb. "We have not set any demands.
"Contact with Inter? Hernanes is a Lazio player, that is all."
Hernanes has been a Lazio player since 2010.