The Hateyspor star and former Ghana international, along with sporting director Savut Taner, were among those buried in rubble days after the disaster that has killed at least 11,000 people across Turkey and Syria.
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Initially it was claimed by his club's vice-president, Mustafa Ozat, that he had been pulled from the wreckage, with the Ghana FA tweeted the ex-Newcastle and Chelsea winger had been found.
However, Hateyspor club doctor Gurbey Kahveci has since insisted this is false.
He said: "When we heard the news that he was taken to Dortyol Hospital, we especially went and looked but he was not there.
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"At the moment, we accept that Savut Taner and Christian Atsu were not found [on Monday night], unfortunately."
On Monday, Ozat had claimed had been found, but was injured.
"Christian Atsu was taken out with injuries. Our sporting director, Taner Savut, is unfortunately still under the rubble.
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"Hatay was deeply affected. We are coming towards the end of the most dangerous hours."
It adds to the already mass of confusion over reporting into the earthquake, where both nations are still struggling to get to grips with the massive disaster.
On Wednesday, it was reported that the death toll had passed 11,000.
Hatayspor, which is based in the area of Kahramanmaras, has been particularly hit hard by the earthquake where two more players - Burak Oksuz and Bertug Yildirim - have since been recovered from the rubble.
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Two members of the technical team - Ekrem Eksioglu and Osman Ates - were also affected but have since recovered and are said to be in good health.
Meanwhile, Hatayspor defender Kerim Alici got out of the rubble himself.
However, second division goalkeeper, Ahmet Eyup Turkaslan, sadly lost his life at the age of 28.
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Atsu joined Chelsea from Porto in 2013 before spells with Everton, Bournemouth, Vitesse, Malaga and Newcastle on loan before joining the latter on a permanent deal in 2017.
The Ghana international had joined Hateyspor in September 2022 on a one-year deal with an option for another year.