Wolves manager Kenny Jackett has confirmed the League 1 club rejected an offer from Celtic for Leigh Griffiths.
The Scotland international has scored 13 times for Wolves this season, but it has been reported he is unsettled in the Black Country.
Griffiths joined Wolves from Dundee three years ago and the 23-year-old has had two successful loan spells at Hibernian since his switch to Molineux.
Celtic manager Neil Lennon has confirmed he is keen to bring another striker to the club before the end of the January transfer window.
But Jackett insists Griffiths will be included in his squad to play Oldham at Boundary Park on Tuesday.
A statement from Wolves read: "Kenny has confirmed that Celtic have made a bid for Leigh Griffiths which has been rejected.
"The striker remains in the squad for the Oldham game."
Lennon is convinced Griffiths would thrive at Parkhead.
"He had a fantastic season last year. I think he has improved as a player and there is scope for him to get better.
"It's not just his goals: he can see a pass; his movement is very, very good; he has got physically stronger; he has got pace about him as well.
"He has broken into the Scotland squad. He knows the environment and I think he would improve here with the players around him.
"People would have said when we brought Gary Hooper in that you hadn't heard of him. You hadn't heard of (Victor) Wanyama and (Emilio) Izaguirre, people like that.
"People say 'he can't do this' and 'he can't do that'. They all did it. We believe that, if Leigh comes here, he can play at this level comfortably and, at his age, there is a good five, six years for him to improve and reach his peak.
"Scott McDonald came here from Motherwell a few years ago and scored a huge amount of goals and went on to score in Europe as well. I think Leigh can do the same."