Lopez split from another dancer, Casper Smart, earlier this year (14) and she was subsequently linked to the Dancing With the Stars regular.
The singer/actress recently denied rumours she is dating again following her split from Smart, but gossip about Chmerkovskiy has continued to swirl.
The Russian hunk has now addressed the speculation directly and insisted he is not romancing Lopez.
He tells the New York Daily News, "With the Jennifer thing, look, we're friends and... we're friends. This is it. This is where it ends, pretty much."
Chmerkovskiy goes on to admit his pals have been poking fun at him since the rumours emerged, adding, "Look, it could be worse, right?... When we get together, all my friends are like, 'Dude, I envy you - if this is biggest problem you have in life, good for you.'"