The 19-year-old has been linked with moves to Arsenal, Liverpool and Manchester City after his outstanding start to the season.
However, Freedman believes that it is too early in the player's career for the winger to leave the club.
"He's got huge potential. He's a wonderful, wonderful player but, better for myself, he's a wonderful young man," Freedman told talkSPORT. "He knows exactly what his path is in football. He knows if he dedicates his life to football he can go a long, long way. The situation is he has got a long contract and I've been working with Wilfried Zaha since the age of 14 years old, so the relationship is strong.
"I've got a responsibility to not only the club's fans but to Wilfried and his family to let them know when the time is right to move on. I strongly believe it is not right now.
"He is playing games, he is getting the attention he deserves and he is working at his game. Sometimes money talks in football but we're at a club right now that is in no debt, we don't owe any money, and we don't have to sell."
Zaha made his Palace debut in 2010.