The 19-year-old has become one of the most in-demand young players in Europe thanks to a stellar first season at RB Leipzig.
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Diomande, who joined from Spanish side Leganes last summer, has scored nine goals and provided eight assists in his 24 games across all competitions.
Bayern Munich are said to be incredibly keen on signing the winger, but Diomande has shut down any talk of a move for now.
“It’s always nice to hear such things. But I haven’t spoken to anyone from Bayern. It’s not the right time for that. I’m happy here in Leipzig and want to remain fully focused,” he said.