The Scottish coach insists that the Belgian's five-year extension proves that the Toffees are not just a selling club despite the departures of Steven Pienaar and Mikel Arteta
The Belgium international has bucked the recent trend of star players leaving Goodison Park, in a development hailed by Moyes as proof that his side are not a selling club.
“He is only 23 years old and he has an awful lot going for him,” the Toffees boss told skysports.com.
“We have ensured that, if he were to leave, he would be an awful lot of money for someone to buy.
“From that point of view it was important we kept him; as a player and as an asset at the club.
“He is someone who has grown in the Premier League and got better and he has a lot of things in the modern game which are required.”
The departures of Steven Pienaar to Tottenham in January and Mikel Arteta to Arsenal on the last day of the summer transfer window had led some observers to brand Everton a selling club, especially as chairman Bill Kenwright has admitted times are tough financially, but Moyes feels Fellaini’s extension proves otherwise.
“I think we have always had the ability to hold on to players,” he insisted.
“I understand why people ask the question of us because of the way people perceive the club, but I don't think that question would have been asked six months ago.
“We are still alive and kicking and we will try to still compete when we can and do everything we can to keep our best players, make the right decision when to sell the right players at the right price.
“As a business we are still trying to do correctly and I still would like to think we are one of the sides who can challenge teams at the top.”
Everton, who are currently 17th in the Premier League after a stuttering start to the season, take on Wolves at Goodison Park on Saturday.