The 30-year-old Spaniard, who has been at Anfield since 2005, spent his youth career at the La Liga giants and went on to make 30 first-team appearances before leaving in 2002.
Current Barca number one, Victor Valdes, has announced that he will not be signing an extension to his contract, which expires in 2014, leaving the Catalan club in the market for a new stopper.
Reina shrugged off reports of a January switch to the Camp Nou and has done so again, reiterating his commitment to the Reds in the process.
"Any talk of me joining Barca is just speculation. I've got a contract at Liverpool and I'm very happy here," he told Radio Marca.
"I am sure Victor Valdes will have his reasons for deciding to leave Barcelona. I respect him. He's my teammate and friend. He'll be leaving with his head held high, as he's given his all to Barcelona."
Reina's contract with Liverpool runs until June 2016.