Arsenal are on the market for a new left-back and have identified the 22-year-old Scotland international as a viable option but the Gunners have had bids of £15m and £25m knocked back by Celtic.
Arsenal are likely to go back to the Bhoys with an improved third offer but Lennon has warned only a fee that would top the £50m Manchester United paid for Wan-Bissaka would be considered.
Tierney is a full-time Scotland international and has experience of playing Champions League football with Celtic while Wan-Bissaka only broke into the Crystal Palace first team last year and is yet to be handed his first England call-up.
"Fifty million for Wan-Bissaka is a lot of money and we feel that Kieran is a far more experienced and rounded full-back at this juncture in his career,” Lennon told a news conference.
"He's an asset for us and we do have a value for the player and we rate the player very highly.
"'Disrespectful' is the wrong word but we're certainly not going to be pushed over in any negotiations and we're in a very strong position with regards to a number of our assets in the team.
"The club's valuation of Kieran has not been met and until then we don't have a discussion. He's a great player, a great talent. At 22, he's already achieved a hell of a lot and he has so much more to give to the game.
"He's our player. He's on a long-term contract. While it's a backhanded compliment for all the hard work people here have done over the years with Kieran, we don't want him to go.
"Some of the players who have left here in the last few years have gone on to do all right in the English Premier League. We think we know what we're doing in terms of developing players.
