Zarate, who was also linked with Manchester City earlier in the summer, has been strongly linked with a move to PSG in recent days.
However, Lotito says no club has firmed up their interest in the 24-year-old.
"We have not received any offers for Zarate," he said to Corriere dello Sport.
"If a player does get an offer and the conditions are there to free him, Lazio will not put up any obstacles. We will evaluate those offers."
Lazio signed forwards Miroslav Klose and Djibril Cisse earlier this month increasing to eight the number of strikers coach Edy Reja has in the team.
The Biancoceleste club, who will play in next season's Europa League, are hoping to offload several of its strikers before the end of the transfer window.
Zarate, who contributed nine goals in 35 league appearances for Lazio last season, is under contract with the Rome club until June 2014.
Source: Team Talk
Source: Team Talk