The 47-year-old has enjoyed a successful six years at the Spanish giants but an indifferent start this year has cast doubt on his future.
Atletico have struggled after their transfer ban and they sit fourth in La Liga, eight points behind Barcelona.
They are also close to exiting the Champions League in the group stages and Everton owner Farhad Moshiri is eager to have talks with the Argentinian about the manager's job at Goodison Park.
However, Cerezo has cast doubt on any move to Merseyside by claiming Simeone is loved by everyone at the club.
"I want to say this in a loud voice," said Cerezo. "Simeone is untouchable at Atletico Madrid, for the players, for the directors and for the supporters. Having doubts about Cholo Simeone is not allowed here.
"No club in the world has had 115 years of continuous and wonderful sporting success. We have had good, bad and average seasons and right now we're in a good one. It only just started and we're not even a third of the way through La Liga and we're fighting for everything."