The 14-year-old rapper's relationship with the 'Keeping Up with the Kardashians' star has been the centre of much speculation ever since they were spotted holding hands at a Justin Bieber concert at The O2 in London last month and on other occasions.
However, Jaden - the son of Will Smith and Jada Pinkett Smith - insists they are not dating but they do have a ''best friend'' connection.
Speaking to Wonderland Magazine, the 'Karate Kid' star said: ''She's [Kylie] one of my best friends. It's pretty awesome.''
Jaden has been performing as one of the opening acts on Justin's 'Believe Tour' and model Kylie has been surprising him with visits at various legs.
He said: ''I was in LA, we were all hanging out. Then I went to New York and she (Kylie) came too, then she came here (to London) and surprised me, so that's pretty baller.''
The pair have become inseparable in recent months but Jaden can next be seen starring alongside his dad Will in the science fiction thriller 'After Earth', due out in June.