A prominent member of France's 1998 World Cup-winning squad, Blanc guided Girondins Bordeaux to the Ligue 1 title last year, in only his second season as a coach and a repeat of that triumph was considered a formality at the start of this year.
The last few weeks, however, have been tough on Blanc and his side, who have slipped down to sixth place, 11 points behind leaders Olympique Marseille, with six matches remaining.
Blanc dismissed the report as "absolute nonsense" and reminded the media he had other things to worry about.
"I am not saying anything about it (the France job) because I don't want to talk about it," Blanc told reporters. "What I want is for us (Bordeaux) to finish the season the best we can."
FFF president Jean-Pierre Escalettes, who has faced criticism for ruling that the unpopular Domenech should stay on until the World Cup, has described Blanc as an "exemplary man" and a "good candidate" for the France job.
Escalettes made sure, however, that an air of mystery over Domenech's successor would remain by naming World Cup winner Didier Deschamps, former France midfielder Jean Tigana and current assistant coach Alain Boghossian as other possible replacements.
