Rumours in recent weeks have linked the former Tottenham boss with a switch to Eastlands.
The Dutchman said: “Hamburg are a fantastic club with great fans. We have a great environment which not many clubs in Europe can boast.
“I am very happy here and the conditions to work in are excellent.
“Hamburg are a club with an excellent tradition and there are only three or four like that in England.
“All the speculation really bothers me.
“I am not thinking about leaving Hamburg in the slightest because I could imagine working here for a lot longer.”