The 21-year-old has been in sparkling form this season, particularly in Europe where his performances have helped Spurs into the knockout stages.
His contract runs out until 2014, and Levy has moved quickly to insist he won't be sold.
Looking good: Gareth Bale in action against Chelsea last weekend
'I've never deemed us to be a selling club if you look at the big transfers which have taken place since I've been chairman,'said Levy at the club's AGM.
'Gareth has got a long contract and I can assure you he will not be sold.'
The main man: Spurs chairman Daniel Levy
Bale has scored nine goals this season, including a hat-trick against Inter Milan in Italy, and a memorable performance against the European champions at White Hart Lane.
Levy clearly wants to keep Bale, but admitted the squad would need trimming elsewhere.
'The January transfer window is again upon us. We currently have the largest squad in the Premier League.
'We shall look to rationalise. Overall, we do not anticipate a busy transfer window.'
On the subject of manager Harry Redknapp, Levy was asked about the chances of him replacing Fabio Capello as England manager after Euro 2012.
'Harry is on a long-term contract. If and when they contact us we will have to deal with it accordingly,' he said.
Hutton fires top four warning with promise to help Tottenham to titleTottenham and Arsenal linked to 'new Thierry' - Feyenoord striker CastaignosTOTTENHAM HOTSPUR FC