The Cameroonian front-man was close to quitting the Nou Camp at the end of last season, with new coach Pep Guardiola not including the forward in his plans.
However, the 28-year-old has responded in the best possible way, smashing home 27 league goals to fire the Catalans to the top of the standings.
But when asked about a meeting arranged between Blues chief executive Garry Cook and Barca president Joan Laporta, Hughes brushed aside suggestions that the pair had spoken about a possible deal for Eto'o.
"It was basically a meeting between Garry Cook and Laporta of Barcelona basically to try and build relationships with clubs at all levels business-wise and football-wise," he told Sky Sports News.
"I think the explanation of the meeting was well documented in the papers. It wasn't talking about individuals, it was about talking about relationships with both clubs.
"People will always mis-interpret the message that we are trying to put out there and make their own interpretation of what the meeting was about, but it wasn't to discuss players, it was to discuss things in the future that could complement both clubs."
And Eto'o himself has ruled out a move away from the Nou Camp at the end of the campaign. The former Real Mallorca striker still has a year remaining on his current deal.
"My future is at Barca," he told the Hora Q programme. "That is clear for me at this moment. If I wasn't happy where I am, I would already have told [Joan Laporta].
"If it was up to him, we would already have sat down to discuss the issue, but because of what's at stake for us and out of respect for my colleagues, now is not the time to talk about wages or whether I will stay on for another five or six years."
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