The Toffees splashed out £35 million to bring the Brazilian to Goodison Park from Watford last summer and he has impressed in his debut campaign with 12 Premier League goals.
That form has led to reported interest from Serie A side Milan, whose sporting director Leonardo is said to be an admirer of his compatriot.
However, Silva vowed to keep the 21-year-old on Merseyside as he looks to build his squad for next season around his most important players.
"We are not thinking of selling him and, second, our fans - I am 100% sure - would not accept this," Silva said to the Liverpool Echo.
"The player is really happy here, he is enjoying every moment here, we are really happy with him and he has many things to keep improving in his game and many things for us to keep working on with him.
"But we as a club do not put a price on him, it's important we keep him and all the others too, and keep building an identity in our club.
"We have to keep our best players. If you look at the last few seasons at our club, some really important players in the dressing room with that Everton identity and either not playing so many games or have left the club.
"And we have to create an identity with the players such as [Seamus] Coleman, Leighton [Baines], Jags [Phil Jagielka] and Gana [Gueye], the young players who know the identity and the others who are playing more.
"We have to create this because at this club you have to understand the culture and you have to pass this identity and culture to the players who are coming in.
"The players must know what it means to be playing for Everton."
Everton are currently 10th in the Premier League table, four points adrift of seventh-placed Wolves in the battle to finish best of the rest.
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