Reports have suggested that Falcao had fallen out with Monaco coach Claudio Ranieri, something the former Chelsea boss has rejected.
Falcao has recently been strongly linked with a move to Chelsea.
But Monaco vice-president Vadim Vasilyev insists the striker is happy at the club.
“He is very happy here, he feels very good in Monaco,” said Vasilyev. “He loves this club.”
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
Who of Europe’s top strikers will move to England this summer?