Malaga sporting director Mario Husillos has insisted that Ignacio Camacho will not be leaving the Spanish club this month.
The 24-year-old, who joined Malaga from Atletico Madrid in 2011, has been one of La Liga's standout performers this season.
A number of European clubs are said to be preparing moves for the Spanish international, but Husillos has denied talk of a transfer.
"We've received offers for Camacho," Husillos told Canal+.
"He's a player for the national team and a luxury we're enjoying. Big teams in Europe have enquired about him, but he won't leave in January.
"I hope he'll stay here for many years. He's signed on for four more seasons. For a long time, there's been murmurs [of his possible departure] which have gone on and on."
Camacho reportedly has a release clause in the region of £18m.