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Maccarone has said that he prefers to play in the Italian Serie A with his newly promoted club at this stage of his career.
"It is too soon to go to England, I am ready for Serie A, even as a fourth striker," Maccarone told the sports newspaper.
"In England, I would have to get used to their football, it would be more difficult for a thousand reasons and I don't think I am ready for that."
"Whoever plays away from home tends to lose their international place," he added.
A spokesman for Blues told the club's official website: "A £7.6 million bid was made to Empoli for Maccarone which was accepted by the Italian club.
"However, the player felt that it was too early in his career to be leaving Italy.
"We are disappointed that he has decided not to come but we will continue to look elsewhere for quality players to improve our squad."