Chelsea and Real Madrid, the two biggest spending clubs in world football, have been linked with bids for the inspirational England midfielder but Parry said Liverpool were still hoping to build a team around him.
"Steven is above money," Parry told BBC radio. "He is the future of Liverpool.
"It doesn't matter if it's 30, 40 or 50 million pounds, we will not accept offers. But we are also realistic enough to know we can't keep Steven against his will."
Parry said Liverpool had told Chelsea Gerrard was not for sale last year and also turned down a Real Madrid request for an option on the 24-year-old during negotiations for the purchase of striker Fernando Morientes last month.
"They were looking for ways of saying they got more out of the deal for Fernando Morientes, but the response to Real Madrid was the same -- Steven is not for sale," Parry added.
A product of the Liverpool youth system, Gerrard signed his current four-year contract in November 2003. He has, however, expressed dissatisfaction at the lack of success at the club and said last month he would consider his future at the end of the season.
Liverpool lie fifth in the Premier League, 22 points behind leaders Chelsea.
CRAVING SUCCESS
"We have re-affirmed recently to Steven that we are trying to build a team around him," said Parry. "We crave success as much as he does. We know he's ambitious and nobody can argue with that.
"I think Steven would dearly love to win things with Liverpool more than he'd like to do anything else.
"We all want to see progress by next season. He's not alone in that. There are a lot of other players who feel the same, so we all have a common aim.
"Our position is we want Steven to stay, but we are also realistic enough and have enough respect for Steven -- and he has enough respect for us -- to know that it is his decision that will be crucial.
"You are not going to keep a player like Steven against his will. That just doesn't work, but any idea we are going to accept offers for Steven and then tell him 'by the way we've decided to sell you' is not on the agenda. You can forget that."
Parry dismissed reports that Gerrard's departure to Roman Abramovich-funded Chelsea was already agreed, but said the clubs had discussed the player.
"There have been a lot of open secrets about Steven, most of which have been complete myths," he said. "It is suggested we had a deal tied up last summer. We didn't have an offer last summer.
"We had told Chelsea that as far as we were concerned he was not for sale and we didn't want to sell him. In reality it didn't go beyond that.
"Maybe there will be an offer in the summer. Maybe there won't."
