The Colombia international has forged a reputation as one of European football's deadliest frontmen.
He joined Atletico last summer having enjoyed a prolific spell with Porto, and was able to replicate those heroics during his first year in Spain.
Unsurprisingly, his efforts have drawn admiring glances from afar.
The likes of Chelsea, Manchester City, Barcelona and Real Madrid are all reported to be readying big-money bids.
Atletico are reluctant to talk terms, though, and are confident that their failure to qualify for next season's UEFA Champions League will not work against them.
"The club has very clear ideas on this," sporting director Jose Luis Caminero told AS.
"Falcao will remain at Atletico Madrid and any talk of an exit is misplaced.
"The striker will remain with us next season and we are not considering any other possibility."
Caminero concedes that there may be market movement at Vicente Calderon, but insists 'that will not affect the situation of Falcao'.