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A source close to Hezbollah said that Nasrallah was "fine," while another source reported that contact with him has been "lost" since Friday night.
Israel's military says Hezbollah leader Hassan Nasrallah was killed in Beirut strike.
Earlier, Israel said it was attacking the group's headquarters and weapons facilities in the Lebanese capital.
Israeli and US media had reported that Nasrallah was the target of the strikes on Friday night. However, a source close to Hezbollah said he was "fine".
The blasts that rocked southern Beirut were the fiercest to hit the group's stronghold since Israel and Hezbollah last went to war in 2006.
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