West Ham were pushing for a £15million deal for Hogan before today's 11pm transfer deadline.
But manager Bilic has pulled his interest in the striker, who has greatly impressed in the Championship this season.
West Ham United transfers: Deadline day ins and outs rumours rated
Tue, January 31, 2017
Football Whispers have rated West Ham United's chances in the transfer market ahead of deadline day (1 – unlikely, 5 – likely)
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Football Whispers have rated the likelihood of West Ham’s deadline day transfers
"I believe that we have really good strikers in our squad and that's why we won't have a Hogan deal," Bilic said.
"It's not a question of him."
Aston Villa are now supposedly frontrunners to sign Hogan.
The Championship club are said to have lodged a £9m bid for the 24-year-old.
Slaven Bilic (left) says West Ham don't need Scott Hogan
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Aston Villa are now favourites to sign Hogan (right)
The manager also confirmed West Ham have tried and failed to land a right-back in this transfer window, while confirming Reece Oxford is set to join Reading on loan.
"We were maybe after a right-back but we couldn't find someone who could improve our starting XI. That's why we haven't got one," Bilic said.
"Hopefully Reece Oxford will go on loan to Reading today.
"The manager there was really important for me in that decision."