Reports suggested that the Belgian striker was on the verge of completing a season-long loan move across west London to Craven Cottage.
Martin Jol is keen to add another forward to his squad and was hoping Lukaku would be the ideal signing.
But Lukaku’s agent Christope Henrotay insists he will not be joining Fulham and they are close to agreeing a move to another top flight club.
Everton have been strongly linked with a move for the talented forward, while West Ham are also looking to bring a striker to Upton Park.
Henrotay said: "I can assure you that Romelu is not going to Fulham. I am currently finalising the details with another Premier League club.
"Romelu will go on loan. I cannot say which team he will join, or when it will happen, but things are progressing."