"I assure you that Hezbollah has nothing to do with this," Nasrallah told a rally in a televised address in Beirut's southern suburbs to commemorate the fourth anniversary of the assassination of his top military commander Imad Mughniyeh.
Nasrallah, however, vowed to avenge the death of Mughniyeh, killed in a mysterious car bomb attack in 2008 in Syria, which his group blames on Israel.
"Our revenge will not be against Israeli soldiers or diplomats; it is actually offensive for Hezbollah to avenge a great leader by killing regular Israelis," Nasrallah said.
"But those who are the real targets know themselves and they are taking measures and I say to them: Stay this way because as long as blood runs through the veins of Hezbollah members there will come a day when we will avenge Imad Mughniyeh's killing in an honourable manner."
Israel has accused Iran and Hezbollah of being behind twin bomb attacks that targeted Israeli embassy staff in India and Georgia on Monday, wounding four people.