It has been reported that Rafa Benitez is set to offer £15million for the centre-back if he is given money to spend by his debt-ridden club after a turbulent season in which the Reds boss has been repeatedly linked with Juventus.
If new buyers are found for Liverpool after they were put up for sale by co-owners George Gillett and Tom Hicks last week then the probability of a bid for Cahill will increase, while Lee Chung-Yong has also been mentioned as a target.
But Coyle is adamant that there has yet to be an approach from officials at Anfield, who could be looking towards the future amid concerns over the longevity of 32-year-old Jamie Carragher.
"I don't know anything about it," the Wanderers boss told the Bolton News. "No-one has spoken to me.
"There was also speculation about Liverpool and Lee Chung-Yong, wasn't there?
"I can assure you there has been no dialogue (with Liverpool) at my level. And I hope I would have been told had it gone any higher."
Arsenal are also said to be considering contacting Bolton about Cahill, a £5m signing from Aston Villa in January 2008, and Coyle confesses that it is impossible to prevent a talented player from catching interest.
But the Bolton manager is also confident the Cahill will still be at the Reebok Stadium in 2010/11 after his contract, which has another two years to run, was renegotiated earlier this season to factor out an £8m buyout clause.
"You can't stop people admiring your players," Coyle said. "But I see no reason why Gary Cahill shouldn't be at Bolton Wanderers next season.
"He will continue to get better. Hopefully, we can help him improve as a player and that will be of benefit to Gary Cahill and to the club."
Cahill has been superb in the current campaign and was said to be in England contention for the World Cup before suffering a blood clot in his arm in February.
Source: Team Talk
Source: Team Talk