Semenyo’s £65million release clause runs until January 10, with Manchester City reportedly leading the race for his signature.
He played against Arsenal at the weekend, and Iraola said he will feature once again for Bournemouth on Wednesday at the Vitality Stadium.
Asked about Semenyo, Iraola said: “Antoine will play tomorrow, yes.”
He continued: “I can give you my opinion from my experience, but there is nothing signed with Antoine Semenyo. If you ask me personally, what do you think?
“With all the noise and this, I think it could be the last game, but I cannot guarantee it. It’s like my personal opinion, because I understand the market, I understand the noise, but right now there is nothing agreed, there is nothing signed.
“So for me he is our player and I hope he continues. But my understanding also, because I've been in other markets before, in this club and in others, there is a chance it's his last game also.”
Iraola praised Semenyo’s professionalism in recent weeks, as the Ghanaian’s final game for Bournemouth could be set for his 26th birthday.
“I think he has been very professional,” he said.
“He has dealt with this situation, whatever happens, I think very well. He's always been ready to play, to give everything, and I want him to play very well tomorrow and let's see what happens later.
“But I can only speak very well about him personally and professionally. And his commitment has never really been in doubt.”
On replacing Semenyo in the transfer window, Iraola said: “Definitely I don't want to lose him. I’ve said it a lot of times.
“And he's a player that is, even in any circumstances, almost impossible to replace. Even in a winter market it’s even more difficult. But I don't want to anticipate anything.
“Let's see if it happens at the end or doesn't happen. But right now I have to say the truth and right now he is our player and continues to be our player.
“And it's not that we are waiting for, the game to happen, I don't know what's going to happen tomorrow or the next two, three days.
“But I’ve asked before coming here just to tell me, otherwise I will look foolish there talking about Antoine and then [he leaves]. And that's the situation today in this moment of the day.”
Asked about his message to the fans wondering if they will be watching Semenyo for the final time in a Cherries shirt on Wednesday, Iraola said: “I don't have an answer for them. I can give what I think and I cannot be more honest.
“My opinion is that there is a big chance it's his last game. But if you ask me right now, right now, there is no agreement, nothing signed with any club.”