The Brazil international has starred for Lazio since joining in 2010, scoring 38 goals in 135 appearances, leading him to be linked with the likes of Inter and Paris Saint-Germain.
And Lazio have now revealed that Napoli tried to sign the 28-year-old in the close-season, but their bid not meet the club's valuation.
"There was an offer from Napoli this summer for Hernanes," Lotito said.
"However, the bid was not compatible with the value of the player.
"I explained to Napoli President Aurelio De Laurentiis that the player was not for sale and I'm not sure whether Hernanes had a desire to go to Naples anyway."
Under new manager Rafael Benitez, Napoli have won their first three games of the season and sit first in the table.
Lazio have won two of their three fixtures and are seventh.
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