The 21-year-old has also captained the Latics in Arjan De Zeeuws absence, and although Jewell won't block a move to one of the clubs big four, the Wigan boss says it would take a lot more than the reported £4million.
"£4million won't get Leighton Baines that's for sure. If he is being talked about as a future England full-back, then you can't get him for that.
"I'll never stop a player going to a top-four club, but I will at £4million. That's not on. Right now I've had no contact with Arsenal, but I can guarantee he will not be going for that amount of money.
"Obviously, we don't want to lose any players. Leighton is a very sensible lad and I think he is better off here at the moment."