The £2million signing from Rayo Vallecano has been a bargain of the season, his 14 goals in 22 appearances prompting reported interest from Atletico Madrid, as well as big-spending Russian duo Zenit St Petersburg and Anzhi Makhachkhala.
But after seeing Newcastle lose star man Demba Ba to Chelsea, Laudrup reiterated his intention to keep hold of his prized asset.
"There is no way he will leave," said Laudrup. "It is absolutely out of the question.
"One reason is because it is so difficult to get someone in right now, and the second is that he is happy here and doesn't want to leave.
"Newcastle have just lost their top scorer mid-season and that is obviously very bad, especially because it is not easy to find a guy who scores goals like him."
Swansea face Arsenal on Sunday in the third round of the FA Cup with Laudrup facing a selection conundrum.
The Swans meet Chelsea in the first leg of their Capital One Cup semi-final on Wednesday, and with that game in mind Laudrup could be tempted to make changes, but appears to have no plans to rest Michu ahead of the trip to Stamford Bridge.
"Your top scorer, you always want him playing every game," he said.
"Together with Ashley Williams they are the two players with the most games this season.
"They always want to play. Obviously I am the one who has to decide and see if they are a little tired - or to let them rest or to play them.
"But he is our top scorer and it is important for the team-mates to have him there and it's important with the opposition because they always know they are in danger when he is there.
"If he is fit then he will play."
Swansea have won their last two meetings with the Gunners, including their 2-0 win at the Emirates Stadium last month thanks to a Michu brace.
And Laudrup expects Arsenal to be thirsting for revenge after they were booed off following that defeat.
"It's never nice to have lost at home and they will remember our game - they will want revenge," he said.
"It looked bad after they played us - they were 10th. For a club like Arsenal, that's a disaster.
"But they won three games consecutively and they are back again.
"They are many years without a trophy and they know the league is not a trophy for them. They have two left so they will come with their best possible line-up and do everything to beat us."