It was suggested yesterday in the Spanish media that a deal had already been struck.
But Cerezo snapped: "It's totally false that Falcao is linked to Madrid.
"Falcao has a contract with Atletico Madrid and there's nothing more to say. It seems there is an attempt to destabilize Atletico."
It had been alleged that Cerezo has said a deal between his star striker and Real had been signed "for some time".
Cerezo added: "One thing is joking and another is talking about things that aren't true. I don't like the fact that you put words in my mouth that I haven't said.
"There's no need to talk about rumours or non-rumours, and the source of the rumour has to be identified so it can be put to bed."