The 20-year-old only made his first senior appearance at the end of February but has since established himself in the first-team, featuring in all but one of the Eagles’ matches so far this season.
His impressive performances also earned him a call-up to the England U21 squad in September.
Those performances have seemingly not gone unnoticed, with champions City rumoured to be tracking the youngster’s progress.
The speculation was given short shrift by Palace boss Hodgson, though, when he was quizzed by reporters.
"I've got absolutely no idea if there's any truth to the subject at all," Hodgson said. "You'd have to ask Pep Guardiola and I very much doubt whether he'd give you an answer anyway.
"But it's good I suppose that there are people out there writing stories, who see the quality of Bissaka and appreciate what he's been doing and linking [him] with another club.
"But as far as we're concerned of course we have him as our player, he's under contract with us and we have no desire or intention of selling him so it's certainly not anything which occupies my waking moments or sleeping moments either for that matter."
Hodgson also seemed to question why City would want to sign Wan-Bissaka, given the strength in depth they already have in that position.
"I always wonder when I see those reports what Kyle Walker and Danilo are thinking,” added Hodgson. “It's very easy for people to link anybody with anybody.
"I'm happy he's here. I'm happy he's playing well. I'm happy his skills are being recognised and long may that continue."
Despite Wan-Bissaka's fine form, Palace have struggled for consistency so far this season.
Hodgson’s side are without a win in six Premier League matches stretching back to mid-September and have dropped to 14th in the table, just two points outside the relegation zone.