Cahill, 25, who has been heavily linked with a move to Arsenal, Tottenham Hotspur and Liverpool this summer, has grown to be an integral part of the Bolton squad since his move from Aston Villa in 2008.
Speaking in relation to the transfer speculation surrounding his star centre-back, Coyle spoke of the need to consider the player’s desire, while also finding a solution that suits the Reebok Stadium side.
"We will need to wait and see what the next few weeks holds before the transfer window closes. It would not be ideal for me to lose Gary, but I have always said, I need to be fair to Gary," said Coyle
"Any player wants to play at the highest level, to play the best teams, and there is nothing wrong with that."
However, Coyle is adamant that Bolton can provide the stage for Cahill to continue his development.
"I have said to Gary he can improve here with Bolton, and he has improved. In the 18 months I have worked with him, Gary has become an integral part of the England squad because of his performances and has improved no end.
"Hopefully with the platform we can give him and encouragement as a staff we can help him on his way to a fantastic career."
Although there have been no "concrete bids" lodged for the England international as of yet, Coyle admitted that Bolton are willing to listen to offers for the defender and a deal may be struck if it appeals to all involved.
"There has been no offer. He is my player and I have to make sure he delivers in each game," the former Burnley boss explained.
"As a manager, I want the best players available for me, but I have also got to be fair to Gary Cahill as well. If it is the right thing for Gary and the football club, then that is something we have to look at. It needs to be the right business for everybody involved."
By Killian Woods
