The 22-year-old has broken into the first team picture at Ewood Park over the last year and is now considered one of the best young defenders in the country.
He was rewarded for his good form in October with a bumper five-year package as Blackburn moved quickly to tie him down.
Souness has now revealed that he was contacted about Taylor's availability last week.
"I got a call last week from an extremely well known Premiership manager enquiring if Martin was available," he said.
"There's no chance, he will not be leaving this club. He has signed a new contract and we think he's got potential and obviously other people do too.
"We feel he has a chance of being a top player."
Newcastle United are being mentioned as the most likely bidders as their need for a new defender is no secret.
Taylor impressed against The Magpies earlier this season when he man-marked Alan Shearer out of their 5-2 win over Sir Bobby Robson's men.
