Skysports.com reports how the 20-year-old midfielder has been linked with a £20million move to west London in January, although the Everton boss insists he has received no offers.
Blues boss Andre Villas-Boas is looking to rejuvenate his ageing Stamford Bridge squad, and is believed to be considering a move for the promising England international when the transfer window reopens.
As Everton chairman Bill Kenwright continues his search for a buyer for the club, Chelsea may look to capitalise on the Merseysiders precarious financial situation - which has seen the sale of former stars Mikel Arteta. Jermaine Beckford, and Yakubu in the summer.
"I still make the football decisions," said Moyes. "Obviously there's a little bit more business involved in it now, where there's other financial things that we always need to keep our eye on, so not all of the decisions can be solely down to just what's happening on the field.
"I don't think we would do it because of the circumstances as I think we got the money we needed back in the summer, and I don't think we would be selling because we need the money for the bank or anything like that just now."
If Chelsea are serious about signing Rodwell, they will face a fight for his signature, with some reports suggesting Manchester City are also monitoring the player's situation.
"Maybe in the past there weren't players at Everton who were good enough for the top teams but I think Everton have that now," added Moyes. "My job has been not to sell the best players.
"When I came in I said that we might not have much to spend but we don't want to get rid of our better players because I don't think that's right.
"There was a bit of speculation about Jack in the summer as well. Nothing came of it and I'm just looking at this one as a similar sort of speculation. Hopefully, nothing will come of this either.
"His development here has been good, he came on the scene very early but overall I will always think that players are better served being at Everton."