The front-man has been in good form this season, scoring five goals for the club in all competitions and has earned a place in Vicente Del Bosque's Spain squad.
And team-mate Mallo believes the Spanish club will do well to resist the interest of such high-profile teams, regardless of how happy Nolito is at Celta.
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Nolito has scored five times for Celta Vigo this term
"Well, you see everyone is asking me [about Nolito] but I'm still here at Celta," he told newspaper Faro de Vigo.
"As I have already said I try to stay out of it [rumours] because it is not good to distract myself with those things.
"I'm not in a position to comment on this and will keep my opinion to myself. I don't think Nolito will pay too much attention to these reports.
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Nolito in action for Spain against Ukraine in the Euro 2016 qualifiers
"If he continues at this level it will be difficult to retain him. But also Fabian Orellana or Iago Aspas.
"They're playing very well. This attracted the interest from other clubs. But they are happy here and our hope is that they are willing to stay with us.
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Nolito's fine form has earned him a place in the Spain squad
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If he continues at this level it will be difficult to retain him
Hugo Mallo
"The team is calm. We know what Nolito thinks, that he wants to be here, he's happy here. That's pretty important and his family is happy here.
"In football you never know what will happen. Maybe nothing will happen or maybe he leaves. We can not say anything either for good or bad.
"Just that he is happy here and that he, right now, would be likely to stay here for many years."