Reports have linked the former England striker with a move to Dave Jones's side but Hoddle told the club's official website that he blocked the approach.
Glenn said: "Wolves asked for Les to go there on a month's loan and I turned it down. That was about 10 days ago. Nothing more really needs to be said."
When questioned as to why he turned it down, Hoddle said: "I want Les to be part of the squad."