Karl-Heinz Rummenigge insists that Bastian Schweinsteiger will not be sold, even if he refuses to sign a new deal.
Schweinsteiger has 18 months left on his current deal and he is currently considering his options.
The 26-year-old has been with Bayern for his whole career, playing over 300 first-team games since his debut in 2002.
Coach Louis van Gaal suggested that he would rather sell Schweinsteiger, if they received a suitable offer, after he was strongly linked with a move to England.
However, the club's CEO Rummenigge insists that Schweinsteiger would not be allowed to leave before his current deal expires in 2012.
"I have always said that we really want to extend Bastian's contract and that is what we are working on," Rummenigge said.
"He is one of our most important players, if not the most important one. But if (a contract extension) does not happen then he will certainly stay at Bayern until June 30, 2012. He will not leave before that date."
Bayern have already extended contracts to 2014 or beyond with several valued players including Franck Ribery, Philipp Lahm, Thomas Muller and Holger Badstuber.