The Italian had been linked with a move back to his home country after a disappointing first season at Liverpool. He initially struggled for form following his £15m move from Roma, and a dislocated shoulder suffered earlier this year means he will play no further part in the Reds' season.
The 22-year-old managed just one goal in 16 outings for Brendan Rodgers' side before the injury, and reports had linked him with a move to Fiorentina.
But, according to reports in Italy as quoted by talkSPORT, Borini's agent Marco De Marchi told TMW: "I've heard the Fiorentina rumours, but there has been no direct contact.
"Fiorentina are a club on the launch pad, they have laid the groundwork for an important project by signing great players and results will soon arrive.
"However, Borini has married the Liverpool project and they are one of the most important clubs in the world."
Fiorentina are currently flying high in Serie 'A', and currently sit in fourth place and in contention for a Champions League qualification spot.
The Italy international was one of Rodgers' first signings after joining the club in the summer, after the Liverpool manager had worked with the striker at Swansea and Chelsea. But a number of serious injuries have interrupted Borini's debut Anfield campaign, although he seems keen to give it another crack next term.
His shoulder injury was not his first of the season. It followed a foot fracture that kept him out until the New Year.