AC Milan, Manchester United, Manchester City are thought to be chasing the signature of the 24-year-old, who scored 23 goals in 26 league games last season.
However, Hulk penned a contract extension at Porto in May, committing himself to the Portuguese champions until 2016, and it is believed the new deal features a buy-out clause in the region of £87million.
The forward has previously hinted he would be open to a move in the next couple of years if the right offer came along, but for now he is adamant his future lies in Portugal.
He said: "To leave Porto now? I am signed for another five years and my future is there."
Former Porto coach Andre Villas-Boas departed the club to take over at Chelsea last month and Hulk wished the manager all the best. He added: "I wish him much luck, except if we play the Blues."