Liverpool have been linked to Manchester City’s Hart following criticism of both their current goalkeepers.
Simon Mignolet and Loris Karius have both struggled for form this season, leading to reports Liverpool manager Jurgen Klopp could ditch the pair and move for Hart.
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But McManaman doubts the German boss is interested in landing England’s current No1.
"I really don't (think it will happen)," he told BT Sport.
"Don't get me wrong I think he's a great goalkeeper.
"But at this moment I don't think so."
Liverpool do not want to sign Joe Hart, believes Steve McManaman
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Hart is on a season-long loan at Torino
Manchester City appear unlikely to field Hart again
Hart is on a season-long loan at Torino and admits he has likely played his last game for City.
He could become available in the summer when he returns to Manchester for pre-season training.