Reports have linked Bolton with a loan move for the England Under-21 international.
Zaha has made just one appearance for United since joining the club from Crystal Palace this summer.
“He’s coming into the building right now, doing his medicals and we’re signing him permanently,” joked Freedman.
“People gossip and things get out – but they are putting two and two together because I had him at Crystal Palace.
“There has been no contact between me and David Moyes on Zaha and no contact between me and the chairman on bringing Zaha here.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.