The talented teenager is regarded as one of the hottest young properties in all of Europe at the moment, and has been heavily linked with a move to the Premier League.
Recent speculation had suggested that Chelsea had agreed a £10million fee with Partizan Belgrade for Markovic, allowing him to move to Stamford Bridge in the summer.
However, the highly-rated 18-year-old, who became a full Serbia international at just 17, has quashed rumours that a deal has been signed.
"It is true. I was in London, I toured around London and I was also at Stamford Bridge," Markovic told Sportski Zurnal. "I met my team-mate from national team Branislav Ivanovic, we talked a little bit.
"I also met people from Chelsea, but it is not true that I have signed anything yet or something like that. There is no contract, not a even a pre-contract. I had a great time there but it is far from being over."
Chelsea owner Roman Abramovich has made clear his intentions to overhaul an ageing Stamford Bridge squad, by recruiting some of the brightest talent in the modern day game today.
Markovic might well be on the Russian's radar, but he will have to be persistent in his pursuit of the forward, who despite his tender years, is eager to play regular football, having already earned over 40 first-team appearances for Partizan Belgrade.