Martin declared himself unfit for their abandoned game at Reading after interest from Derby boss Steve McLaren.
And the 28-year-old was not in the side for Monday's defeat by Brighton.
But Jokanovic insisted: "We signed the contract, all three sides - Derby, Fulham and Chris Martin - and there is no option for a recall."
He continued: "This is nice because they offer him more money and more years, but this solution does not exist.
"He was going to stay until the end of the season. That is my position and Fulham's position. And that's it."
The Fulham boss says Martin claims he is not fit to play, but says his medical team have yet to find any problem with the Scotland international.
"He is still trying to explain that he is injured but my medical department did not find any problem at the moment. I am not doctor here, and we are going to try and find where this problem is," he said.
"When we played Derby three or four weeks ago Steve McClaren asked me about Chris Martin because he explained he likes this player.
"And I explained he is under contract, I want to keep him and recommended that he look in the market for another option. But he must not have understood my English."
After Derby's 3-0 loss at Norwich on Monday, McClaren, who took over in October, again confirmed he was keen on bringing back Martin.
The forward scored 46 goals in two seasons at Derby during McClaren's previous spell at the club, helping them reach the 2014 Championship play-off final.
"That's at board level at both clubs," he told BBC Radio Derby.
"They made an agreement to do the loan and if it needs to be terminated they have to make a decision to do that."
Fulham boss Slavisa Jokanovic says there is no way that striker Chris Martin can be recalled from his loan spell by parent club Derby County.