A hamstring problem will rule Austin out of the Clarets' FA Cup third-round trip to Barnsley this weekend but the 23-year-old has enjoyed a phenomenal season to date.
The former Swindon man has 23 goals in 27 games this term, a streak that has seen him smash club records and reportedly attract the attention of a host of top-flight clubs.
"The club has made it quite clear that they are not thinking of selling him," Dyche told Burnley's official website.
"We are happy for him to be here. He is enjoying his football, still scoring goals and long may that continue."