Villarreal have dismissed suggestions Denis Suarez could join Barcelona in January.
Suarez, 21, joined Villarreal from Barca in August but the European champions confirmed that they had an option to buy the player back at the end of the season, with the agreed fee reported to be €3 million.
He has been linked with an earlier return, though, with Barca coach Luis Enrique saying recently that he considers the Spain under-21 playmaker an "interesting" player and sporting director Robert Fernandez saying a January move was a possibility.
However, Villarreal president Fernando Roig told Spanish media on New Year's Eve that the former Manchester City player, who was on loan at Sevilla last season, will not be available at this stage.
"Denis Suarez has a contract for four years," Roig said. "There is no chance of him leaving currently. There is an option for next summer [in his contract], but until the end of the year no chance."
Roig did confirm that Villarreal would like to bring back Real Madrid winger Denis Cheryshev, who spent last season on loan at El Madrigal.
"Cheryshev is a player who everyone likes, the coach likes," he said. "If it were possible he would be a big help for us and a great signing. We will try and we will see if it happens and is possible."
Cheryshev has had little impact since returning to the Bernabeu in the summer other than his involvement in the club's expulsion from the Copa del Rey.
ESPN FC's Spain correspondent, Dermot Corrigan, contributed to this report.