The boxing legend, 34, accused 'The Problem Child' of essentially clout-chasing after he sensationally called out the current pound-for-pound king on Twitter.
Canelo Alvarez, 31, is due to fight Caleb Plant, 29, on November 6, a month before Paul, 24, faces Tommy Fury, 22, at Amalie Arena in Florida on December 28.
A four-weight world champion, the Mexican is quickly starting to run out of potential future opponents, prompting speculation as to who he might fight next.
Yet, Frampton insists there's no way he will fight Paul, who is expected to be at the T-Mobile Arena on Saturday, simply because he doesn't need the money.
"You only fight Jake Paul if you need a bit of money really," Frampton told GIVEMESPORT.
"I was going to say Canelo seems like a principled man but then obviously you've got the drug allegations, well, the failed drugs test, not an allegation.
"So without contradicting myself, I think he would be principled enough to not fight someone like Jake Paul.
"I think Jake Paul is using Canelo's name to get attention. But that's a one minute job. It's an easy night for Canelo."
'Canelo' is widely regarded as one of the greatest fighters of his generation, boasting an impressive CV which includes wins over Miguel Cotto, Gennady Golovkin, Amir Khan and Billy Joe Saunders.
Plant is not expected to pose much of a threat, but Frampton already has a fresh new challenge in mind.
When asked who he would like to see Canelo fight next, he replied: "[David] Benavidez. Well, I would really like to see the [Artur] Beterbiev fight, but whether that happens or not, I don't really know.
"But Benavidez, it's an all-Mexican affair, it's a huge fight.
"And again, he's a fighter that I think won't beat him, but will certainly give him problems."
Asked if he can see anyone beating the Mexican, he answered: "Not at super-middleweight, I don't see any of the super-middleweights beating Canelo.
"But if you know you go to light heavyweight and you talk about Beterbiev then he has a chance of losing then."
BT Sport Box Office will show Canelo v Plant exclusively live in the UK on Saturday 6th November. For more info go to www.bt.com/sport/box/officeNews Now - Sport News