Bojan has been given a new lease of life in the Premier League since leaving Barcelona to move to the Britannia Stadium in July.
The 24-year-old playmaker's impressive form has led to Liverpool being linked with a January move to take him to Anfield, but Hughes said on Friday that the Merseyside club would be wasting their time if they lodge a bid for Bojan.
When asked about speculation over Bojan's future, the Stoke manager told reporters: "Don't bother! He has done exceptionally well, and he is playing well now. He is a talented football player and he is proving that.
"The reason he is with us is because he is at a stage of his career where he needs stability.
"He knows that too, and he is really happy here. He is embracing everything, and there are absolutely no intentions of encouraging any interest in him.
"It is a non-story as far as I am concerned. We want to build our team around players like him."
Bojan has scored four goals in 16 Premier League appearances for Stoke.
