"We think there is no prospect whatsoever of this happening," said SFA spokesman Andy Mitchell.
Sepp Blatter, president of world soccer's ruling body Fifa, suggested in a BBC radio interview that he would be happy for the English, Scottish, Welsh and Northern Ireland teams to combine under one flag for the Olympic tournament.
His comments were welcomed on Tuesday by the British Olympic Association.
But they cut little ice with the British football associations who have long opposed the idea for fear of losing their independent identities and seeing their four votes on Fifa's executive committee reduced to one.
Blatter said he saw no reason to link the idea of a British team with a loss of the four associations privileges in Fifa.
"We have played as an independent footballing nation since 1872 and we see no benefit in changing our status," continued Mitchell.
"There are a whole range of barriers to a British team taking part in the Olympics.
"Principally the fact that the Olympics is run at under-23 level and you qualify through the Uefa under-21 tournament.
"Our Scotland under-21 team is a key stepping stone to the international team and we would not wish to give that up for the sake of some notional British team."
Mitchell said the SFA had had no talks with the BOA about the matter and did not plan any.
He also said the BOA's suggestion that a British women's soccer team could take part in the 2004 Olympics in Athens was just as unlikely.
"Exactly the same arguments apply," Mitchell said. "There has been no approach made. Women's football isn't some separate sport."