The singer, 22, denied the rumours which surfaced earlier this month.
And we have to say, we're a little disappointed - they'd make a GORGEOUS couple!
Model Gigi Hadid - who is dating Nick's brother Joe - was said to have played matchmaker between Nick and Kendall.
A source told Us Weekly that, although it was only the very early stages, the famous pair "had a flirty chemistry from the start".
But Nick has now insisted he's very much single.
In an interview with E! News, the singer said: "We're not dating.
"Kendall is great and naturally with her being good friends with Gigi [Hadid] and with Joe [Jonas] and Gigi dating, there are times we'll be in the same place and we all hang out."
We reckon there's still a chance then? We're keeping optimistic!
'Jealous' singer Nick split from girlfriend Olivia Culpo in June.
He told the publication that, although he's open to grabbing a drink or dinner with someone, he wants to keep any potential romances "light and casual".
He is currently promoting 'Levels', his first single from his upcoming second album.
Meanwhile, Kendall was most recently linked to Formula One driver Lewis Hamilton, but he has since been pictured looking rather smitten with Rihanna.
We can't keep up!
All you need to know about Kendall Jenner:
For exclusive competitions and amazing prizes visit Reveal's Facebook page NOW!