The Oman international is on a season-long loan at the DW Stadium and has impressed in five starts this season since displacing Chris Kirkland between the posts.
Latics boss Roberto Martinez has said he would like to hold onto the player for "as long as we can", but Coyle has warned a substantial offer would be needed to prise him away.
"The only way they can keep him for good is by paying our club a large transfer fee - if indeed that's acceptable to us," Coyle told the Wigan Evening Post.
"Wigan can make as much noise as they want, but ultimately I'll decide whether Ali Al-Habsi is a Bolton Wanderers goalkeeper or not."
He added: "We put him on loan because it was a win-win-win situation. Ali gets games in the Premier League, we get a terrific loan fee, and I have got a terrific goalkeeper in Adam Bogdan, who has shown he can step in when necessary - so it was a great bit of business for us."
Source: Team Talk
Source: Team Talk