The Nigerian has been linked with a move away from The Hawthorns, with Queens Park Rangers keen on acquiring the services of the forward.
However, Garlick insists that none of Albion's top players, including Odemwingie, are available for transfers.
"Last summer there were supposedly players leaving but we kept hold of most of them," Garlick said. "We don't have to sell any of our players. It's only on our terms.
"It's well documented about Peter. We had an offer and we don't intend to sell any of our players.
"When an offer comes in, we speak to the player out of courtesy. We've had that chat with Peter and he knows the situation."
The Baggies travel to Everton on Wednesday in the Premier League.