Reports had claimed The Baggies were weighing up a swoop for Hulse, as manager Gary Megson prepares for life in The Premiership.
Megson is searching for fresh firepower as he seeks to assemble a squad capable of survival in the top flight.
Hulse had shot to the top of his shopping list after he decided against enticing Coventry City marksman Lee Hughes back to The Hawthorns.
But Second Division outfit Crewe insist they have not received an approach for Hulse and are not aiming to part company with their best players.
"There is nothing to it. There hasn't been any contact - it's pure speculation," said a club spokesman.
"The club is looking to keep its best players, and the chairman has recently reiterated the point of how desperately the club wants to be back in the First Division."
The 22-year-old was Crewe's top scorer last season as they were relegated from Division One and has attracted the interest of several Premiership clubs.
