Doyle has been linked with a move to Everton and the Republic of Ireland striker is currently out of the starting XI at Molineux.
But McCarthy concedes it would be "madness" to let his £6million signing from Reading leave as his side prepare for Tuesday's home Barclays Premier League clash with Liverpool.
McCarthy said: "Whether there is interest or there isn't interest in Kevin, it doesn't matter because he is going nowhere.
"I would really be crackers to sell Doyle with two days to go. I'm not crackers."
Doyle played a major part in Wolves surviving their first campaign back in the top flight two years ago but he has struggled to reproduce his best form since a knee injury meant he was sidelined for the final six weeks of last season.
Steven Fletcher has replaced him as McCarthy's first-choice striker.
McCarthy is to run the rule over former Norwich midfielder Mark Fotheringham in Monday night's reserve clash with Fulham.
Fotheringham is a free agent and has been training with Wolves for the past few days.
McCarthy said: "He will have a game tonight [Monday], he is 28, he is an experienced lad. Because he is a free agent, if anything was to happen, there is no need for it to be concluded by tomorrow [Tuesday]."
Reserve striker Sam Vokes has joined Brighton on loan for the rest of the campaign.