Reina has been linked with a move to Manchester United in recent days.
“It was just one of those stories that seems to occur – it’s just disappointing and annoying,” Hodgson told the Liverpool Echo.
“Pepe is fantastic here, he is a lifeblood of this team.
“Everything he does around the club is excellent – he is always lively in the dressing room, he is always first class in training and he always wants to do more to improve.
“He demands better from those around him, he is always pushing people on. He is a player who we hold in the highest esteem.
“We have heard nothing from Manchester United and, more to the point, we don’t want to hear anything from Manchester United.
“If (Sir Alex) Ferguson is looking around at the end of the season and he has got lots of money to replace (Edwin) van der Sar, he might very well want Pepe Reina because he is the best around.
“But we do not want to sell him. I would like to think that we are going to become a successful club once again and Pepe is crucial to that.”
