Technical director Marcel Brands says PSV Eindhoven have not enquired over bringing AC Milan midfielder Mark van Bommel back to the club.
The 34-year-old has previously said he would be keen to make an emotional homecoming at the club where he spent six seasons before leaving for Barcelona in 2005.
Van Bommel is out of contract at Milan in the summer but Brands insists it is too soon to make an approach.
"It's too early. We're just halfway through the season, you don't know what else will happen," Brands told NUSport.
Meanwhile, PSV are planning contract talks with 33-year-old defender Wilfred Bouma, whose deal is also due to expire at the end of the season.
Brands added: "We are going to sit down with Fred but it has not happened yet.
"He makes an impression, he's fit and he plays a lot.
"We also want some balance in the squad. If we only have young players then it is uneven."