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Leading agents are said to have been instructed to sell Petit for £5million, while six other experienced Chelsea players - including Marcel Desailly - are also reported to be available for transfer either now or this summer.
But Hutchinson responded: "It's news to me. I have checked with Claudio Ranieri and it's news to him as well."
In June, Hutchinson, who currently controls transfer policy at the club, steps aside to take a short break from the game and Bates is expected to assume control of comings and goings thereafter.
The outspoken Chelsea chairman has been determined to reduce the average age of the Blues' squad for some time.
Ranieri has been pursuing that goal since he took over from Gianluca Vialli in September 2000, but Hutchinson insists that he is determined to ensure Chelsea hang onto Petit, who was signed only last summer for £7.5 million.
Reports nevertheless indicate that the 31-year-old Frenchman, who is currently out injured with an ankle problem, is being made available for £5million.
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"We are desperate to get him back in action. We need him in the midfield as he gives us the quality of being able to spray the ball around as well as holding it.
"He's very keen to get fit again, but has been to his own guru in Monaco to try to speed up the process."
Hutchinson added: "Professional clubs do not decide in January who'll be involved the next season or who will be sold in the summer.
"Clubs that want success have to have the qualities of experience in their ranks as well as players coming through the ranks. You need to have that blend."
Bates is currently away on holiday but, given the prominence of the reports stating that Petit and Desailly are set to be sold, the two World Cup winners are likely to seek assurances from the club as to their futures.
Just a couple of weeks ago, 33-year-old Desailly was said to have been offered for sale to Manchester United, but he insisted on his personal website that he was determined to stay at Chelsea.
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Morris was also named in this latest report, which said that he, Mario Stanic, Albert Ferrer, Celestine Babayaro and Winston Bogarde were among seven players who would be available at the right price.
It is already known that Chelsea are open to offers for Bogarde and Ferrer, who are both looking to leave the club.
However, the other five players have all figured prominently in Ranieri's recent plans when they have been fit.
Leading agent Jon Smith said: "I have not been given the nod to sell Emmanuel Petit or any other Chelsea player at this time.
"However, there is no doubt that there will be a re-evaluation of the squad at the end of the season, when Colin Hutchinson steps aside and Ken Bates - or whoever else - takes over."