The Argentinian tactician, who has been at the helm of the Rojiblanco outfit since 2011, is a reported target of Manchester City and Paris St Germain.
“Simeone has three years left in the contract he signed,” Cerezo told Radio Marca on Wednesday. “He is a gentleman and a man of his word.
“We will have ‘Cholo’ (Simeone’s nickname) for a long time.”
Simeone recently insisted he was happy at Atletico and had no intention of leaving the Vicente Calderon stadium any time soon.
The 44-year-old led Atletico to their first Primera Division title since 1996 and their maiden Champions League final.
Moreover, Simeone has guided the Rojiblancos to trophy success in the Europa League, the Copa del Rey, UEFA Super Cup and Spanish Supercopa.
Simeone, a former Atletico
player, has plenty to look forward to with his team alive in three competitions this season.
Atletico are third in La Liga and will take on Bayer Leverkusen next month in the Champions League last 16.
The defending La Liga champions square off at the Nou Camp against Barcelona on Wednesday evening in the first leg of their Copa del Rey quarter-final tie.