A report in Friday's Daily Mail claimed that Ferguson is a long-term admirer of Lampard and that he was lining up a surprise move for the Blues veteran. It also suggested Lampard would welcome such a move as he is unsettled at Stamford Bridge.
Ferguson has made unexpected signings before, not least his acquisition of former Liverpool striker Michael Owen in 2009, but the Scot moved quickly to quash the Lampard link.
"Do you really think Chelsea would sell to United in January?" Ferguson said. "There's no foundation in that. Chelsea want to do something in the second half of the season so they want to keep their best players."
Lampard, 33, has been out of favour this season at Stamford Bridge under manager Andre Villas-Boas, starting just five of the past ten games and failing to play any part as an unused substitute in crucial matches against Tottenham and Valencia.
The England international has been linked with a move away from the Blues in recent weeks, and a reunion with former boss Jose Mourinho at Real Madrid has previously been touted.
However, Lampard remains Chelsea's second top scorer this season and insisted on Wednesday that he wanted to stay at Stamford Bridge.
"I'll always be completely committed to Chelsea because they're my club and I love playing for them," he said.
Meanwhile, United boss Ferguson maintained his unwillingness to dip into the January transfer market, despite his side suffering two successive defeats against Blackburn and Newcastle.
"What can you get in January?" Ferguson said. "The players we'd like, we can't get. If the alternative is to sign a second-rate player, we don't want to do that.
"Our injuries have led to fans wanting us to sign someone but I don't want to sign a player who won't get a game when everyone's fit because he's not good enough."
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