The new Toffees boss has confirmed that the 28-year-old left-back was subject to an offer prior to the club's pre-season tour of Austria which was dismissed out of hand.
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Martinez did not name which club made the bid for Baines, but admitted that only one side had formally approached the Goodison Park outfit.
"Before we went to Austria, one club officially contacted ourselves with an offer and it was a final offer," he told the Liverpool Echo.
"They put something over and the valuation wasn’t anywhere near the quality of Leighton Baines. That was the end of it but since then there’s been all the speculation, which has been part of what the transfer window is.
"There’s never been another club or anyone else putting in an offer for Leighton. Since then we’ve moved on and we’re continuing to focus on the start of the season."
Baines, ever-present for Everton last term, was one of the Toffees' stand-out performers, bagging five goals and providing seven assists in 38 Premier League appearances.