Instead, the Italian believes Antonio Conte should move for Andrea Belotti, claiming the Torino front man would be a better fit to his Blues system.
Morata was expected to make a switch to Manchester United, after they made bids for the forward that were snubbed by Los Blancos.
But after losing interest – prompted by Real’s attempts to make as much money from the transfer as possible – turned their attentions to Romelu Lukaku.
Jose Mourinho’s men then pinched the £75million forward from under the noses of their Premier League rival, who were expected to re-sign the Belgian.
And as a result Chelsea have been linked with Manchester United’s previous target, Morata, who is still in limbo over his future.
Speaking to talkSPORT on Alan Brazil Sports Breakfast, Zola explained that despite this recent link, he doesn’t believe his former side should make a move for the Spaniard.
“To be honest, I was thinking Chelsea should go for Andrea Belotti in Italy,” said the former Watford and Birmingham City boss.
“I thought that considering the type of qualities Costa has, that Belotti was the perfect fit.
“Morata is a little bit different, he’s more of a finesse player. He hasn’t got the presence of a player like Costa in the box. He’s a different player, he brings other qualities.
“Costa was very influential last season, he’s a type of player who fits with the style of football at Chelsea, and that [finding a like-for-like replacement] will be the key for Chelsea.”