Nagelsmann is adamant a player of Lewandowski’s quality will always be linked with the big clubs.
Lewandowski has been in the news this week with reports going rife that the Poland international is seeking a fresh challenge after seven trophy-laden years in Bavaria.
The former Borussia Dortmund forward, who turns 33 on Saturday, has two more years on his Bayern Munich contract, and is presumably looking for one last adventure with a big European club as he enters into the twilight of his career.
Lewandowski has started this season in typical goalscoring fashion, netting against Borussia Monchengladbach on the opening weekend of the Bundesliga and adding two more in a 3-1 victory over Dortmund in the German Super Cup in midweek.
Asked about the rumours ahead of Bayern's game against Cologne on Sunday, the coach said: "That doesn't bother me at all, if I'm being honest. That is part of the business.
"If I were not coach at Bayern but at another big club, I would always ask about that name and hope that something would work. It's because he scores a lot and is the most dangerous striker out there. This is completely normal.
"The only thing that matters to me is how the player reacts – and Lewy is in top shape. He talks a lot to me and the players in training. He is not a satellite that isolates himself and hopes that he will go away.
"He feels good, which was also shown by his performance against Dortmund, even in training. A player who wants to leave would not do that.
"It is part of life that there are rumours. Live and let live – both journalists and players. When the player is in a good mood, and that's the case, we're all happy."