The Argentine playmaker has been linked with several clubs ahead of the new Premier League season and head coach Irvine has stated that Yacob could leave the club if a suitable offer is received.
However, Scotsman Irvine added that no deal is imminent and he is in no rush to see Yacob leave The Hawthorns.
"We're not looking to sell," said Irvine. "We're trying to build the squad at this moment.
"But if someone comes in and makes an offer at a certain level, the club will decide whether to do business or not.
"We're not actively looking to sell Claudio, definitely not. But could it happen? Could someone come in for him? Possibly.
"We're not close to bringing anyone in and, likewise, I don't believe we are close to sending anyone out."
Yacob joined Albion from Racing Club in his homeland two years ago and has established himself as a first-team regular for the club.
