Birmingham media reported on Tuesday that Hoolahan had asked to leave Carrow Road for Villa, where former Norwich boss Paul Lambert is manager.
But City chief executive David McNally has shot down the claims and insisted none of the club's senior players will be sold this month.
He said: "The club's focus is on improving the squad during this transfer window.
"As we've always said, no players will be sold against our will. We've received no transfer requests this season and have no intention of releasing any of our senior players.
"Our focus this January, as with every transfer window, is very much on improving the squad."
Hoolahan, 31, is in his sixth season at Norwich but has started just five Premier League games this term.
The Republic of Ireland international was missing at the weekend as Norwich drew with Fulham in the third round of the FA Cup, but manager Chris Hughton said after the game his absence was down to injury.
"Wes at this moment is having treatment," he said. "There has been no bid that I am aware of, absolutely not."