Kaplinsky was named as a frontrunner for a job on the breakfast show after it emerged that current hosts Adrian Chiles and Christine Bleakley will be axed from the programme.
However, The Guardian reports that Kaplinsky's spokesperson has scotched the rumours.
"Natasha has already done her fair share of early starts on BBC Breakfast, so I can't imagine she'd want to go back to those anti-social hours," the representative said.
"She is currently really enjoying her time in the ITV newsroom, where the team have made her very welcome."
Kaplinsky's fellow frontrunner Eamonn Holmes has admitted that he would like to be considered for Daybreak, while Chiles has complained about the way the news of the Daybreak shake-up was leaked.