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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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.