The 23-year-old striker, who spent two months on loan with the Seasiders last season, will officially be out of contract at Deepdale at the end of this month and reports had suggested he could be set for a permanent move to Bloomfield Road.
"I can honestly tell you I have not spoken to Simon Lynch, he is not a player we are looking to sign," Hendry told the official Blackpool website.
"I have spent the majority of the week on the telephone and we are currently in negotiations with a number of players but like I said before, Simon is not one of them."