According to the PA news agency, West Ham will not accept offers for Declan Rice until the end of the season.
Reports emerged on Monday that Arsenal are looking to start talks with the Hammers over a £90million move for the England midfielder.
West Ham are believed to have come to terms with the loss of their captain this summer and are preparing for a bidding war also involving Chelsea and Manchester United.
But the club and Rice are solely focused on ending the season on a positive note, both domestically and in Europe.
All but safe from relegation, the Hammers meet AZ Alkmaar in the second leg of their Europa Conference League semifinals in the Netherlands on Thursday, leading 2-1 from the first leg.
Rice, 24, knows his final act in a West Ham shirt on June 7 in Prague could be lifting a European trophy and thereby cementing his place in club lore.
He was only the third West Ham captain to win a trophy, alongside Bobby Moore and Billy Bonds, who won their last title, the FA Cup, in 1980.