The 21-year-old midfielder, whose contract runs until 2014, has received rave reviews this season with some superb displays, notably in Europe.
"I've never deemed us to be a selling club if you look at the big transfers which have taken place since I've been chairman," said Levy at the club's AGM.
"Gareth has got a long contract and I can assure you he will not be sold."
Bale has scored nine goals this season, five in the league to keep Spurs in touch with the leading pack in fifth place, four points behind Chelsea in fourth spot.
The Welsh international has struck four Champions League goals, including a hat-trick against Inter Milan in Tottenham's 4-3 defeat in the San Siro, while he played a key part in Spurs 3-1 win over the Champions League holders in the match at White Hart Lane.
However if Levy rejected the idea of cashing in on Bale, he admitted that the Spurs squad needed trimming - though not immediately.
"The January transfer window is again upon us. We currently have the largest squad in the Premier League," added the Spurs chairman at Tuesday's AGM.
"We shall look to rationalise...Overall, we do not anticipate a busy transfer window."
However Levy dead-batted questions regarding the possibility of manager Harry Redknapp, whose contract runs until 2013, succeeding Fabio Capello as England coach.
"Harry is on a long-term contract. If and when they contact us we will have to deal with it accordingly," said the Spurs chairman.
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