Dawson wants to join Championship club Middlesbrough, but the manager said they have not made an acceptable bid.
Hill said: "The realistic valuation we have have for Craig has not been met by any club and until it is Craig will remain a Rochdale player."
He added: "From Craig's point of view it probably is disappointing we haven't managed to negotiate a deal with Middlesbrough but that is just part and parcel on being a professional football player."
The Rochdale manager added Dawson's behaviour this summer has been completely professional.
Hill said: "He has been exemplary since he returned to pre-season training and his attitude to training has been outstanding and I expect that to continue.
"He has to be able to take it in his stride and if he continues to play football the way he has been doing it won't be long before there is a clammer of clubs trying to sign him."
Source: BBC Sport
Source: BBC Sport