The star insisted he was happy to stay in the French capital.
"I am happy at PSG, I don't know where these stories are coming from," he told a press conference before Sweden's European Championship qualifier against Montenegro on Sunday.
Ibrahimovic, 33, who helped PSG to a clean sweep of four domestic trophies last season (League, Cup, League Cup and Champions Trophy) insisted: "I am a PSG player and I have another year left on my contract.
"The media blow things up but there is no truth to these stories about Milan."
However, he did acknowledge that a return to Milan, where he enjoyed a successful spell form 2010 to 2012, was not entirely out of the question.
"Anything can happen," he added.
Ibrahimovic made global headlines earlier this year when he blasted France as "a shit country" in a post match rant against a referee.
He quickly apologized, saying "my words were not targeting France or the French people. I was speaking about football and nothing else".
"I was speaking when I was annoyed and everyone knows that at these moments you can speak without thinking," he added.
But the player was banned from several matches following his outburst.
The star, who hails from Malmö in southern Sweden recently sold his mega mansion in the city after putting it on the market when he first relocated to France in 2013. The posh pad was picked up by another leading Swedish sport star, NHL ice hockey player Carl Söderberg.