The Danish goalkeeper is rumoured to be a transfer target for AC Milan but he will not consider a move away from Leicester until the end of the season.
"It is flattering with all the rumours linking me with some big clubs," Schmeichel told Danish newspaper BT.
"But the teammates and me are fully focused on securing promotion to the Premier League for Leicester.
"Afterwards, I will think about the future."
Leicester are currently eight points clear at the top of the Championship.