The Brazil international is rumoured to be considering a move away from Catalonia this summer due to financial worries - a story which has been flatly rejected by his wife Natalia Belloli - but his place in Hansi Flick's plans remains unclear at this stage.
Raphinha has been previously targeted by clubs in Saudi Arabia - prior to Flick's arrival at Barcelona in 2024 - and a mega-money €100M offer has been suggested as being back on the table.
However, as per reports from 365scores - via Diario AS - Al Hilal have firmly rejected the speculation by confirming no talks have taken place nor do they intend to submit an offer.
The club are unhappy with the role of Raphinha's agent, who they believe is trying to leverage transfer interest against Barcelona, to and secure a new contract with the LaLiga champions.
Barcelona's move for Anthony Gordon prior to the 2026 FIFA World Cup has also raised doubts over retaining Raphinha with his current contract running until 2028.
Al Hilal boss Simone Inzaghi is looking at more understated options to bolster his squad this summer with Marcos Leonardo expected to leave Riyadh in the coming days to sign for Ajax.