English Championship side Brighton were linked this week with a swoop for the Scotland left back.
But the Gers gaffer is determined to hold on to his best player and most prized asset.
McCoist said: "Lee is a very important player to us. We've had absolutely no contact from Brighton and Hove Albion and I do not expect him to go.
"I would be hopeful as manager of the club that we can keep our best players and Lee certainly falls into that category."
McCoist also dismissed speculation that former St Mirren and Norwich man Simon Lappin had joined the club on trial.
The Scots midfielder is a free agent after being released by Cardiff city.
Rangers return to Championship action tomorrow night when they face Falkirk, but they are set to be without right- back Richard Foster and midfielder Ian Black for the Brockville clash.
The pair were crocked in Sunday's loss to Hearts at Ibrox and they are also doubtful for the Petrofac Training Cup tie against Clyde next Monday.
"Both players missed training," McCoist told rangers.co.uk yesterday.
"Richard is going to be very doubtful for Falkirk and the Clyde match on Monday, while it's the same with Blackie too.
"That's not ideal for us, but everybody else is in fine form.
"We had a closed-doors game yesterday and that gave two or three of the younger boys a run.
"They came through it fine, so while two of our players are struggling we have plenty of others in our squad to call on.
"That's why we need competition for places.
"We have a reasonably strong 14 or 15 players here but when we get a couple of injuries it's up to the others to come in and take their chance."
Injury-hit Honduran midfielder Arnold Peralta is also out of contention with a groin problem.