Maldini has been linked with a role at Milan under the club's new owners.
But he told Sky Italia: “I am a little tired of hearing this. I have built my own life. There's really nothing in it. Milan remain a great love, not just for me, but for my whole family, but it is not in my future.
“I think it is the duty of those who buy a club in a foreign land to look at the history of that club. I always said the President of a club cannot consider it his alone. Milan have millions of fans all over the world and there has to be respect for them, taking their thoughts into consideration.
“The affection of the fans has no borders, as Milanisti are everywhere. I must admit all football fans have been affectionate with me."