Hiddink has been linked with the Chelsea job ever since Avram Grant was sacked by the London club last weekend.
"There's no way Guus will go to Chelsea," Hiddink's agent Cees Van Nieuwenhuizen was quoted as saying by The Times.
"It's not an option and has never been. Guus is the coach of Russia and will stay until the World Cup of 2010."
Hiddink led Russia to the Euro 2008 finals in Austria and Switzerland this summer, where they will compete with Spain, Sweden and holders Greece in Group D.
Mancini Staying with Inter
In the same manner, Roberto Mancini's advisor Maurizio De Giorgis insisted that the Inter Milan coach has no intentions of leaving the Italian champions for Chelsea.
"He (Mancini) has a four-year contract with Inter and he is very happy to stay there," De Giorgis told Sky Sports News.
"He just won a third championship and they are also going to try and win a fourth and the UEFA Champions League too.
"There is no truth whatsoever that there has been contact with Chelsea and there has been no contact with any team other than Inter.
"That is the real truth. If there are rumors they are unfounded. If there is anybody that went to make noises to Chelsea, it was not authorized by Roberto Mancini."
Mancini's name has been mentioned at Stamford Bridge even before the sacking of Grant.