The Nigeria international arrived at Loftus Road on Thursday evening, hoping to secure a move to the Hoops, but West Brom insisted no fee had been agreed for the forward.
Furthermore, the Baggies had not given Odemwingie permission to discuss personal terms with QPR, with the striker ultimately staying put at the Hawthorns.
“Peter has acted wholly unprofessionally,” said West Brom chairman Jeremy Peace on transfer deadline day.
“This evening’s developments have brought a conclusion to what has been an unsavoury affair.
“As our sporting and technical director Richard Garlick has repeatedly said in recent days, we had no need or desire to sell our core players.
“The only way we would have considered letting Peter leave was if an acceptable offer was forthcoming and if we had found a suitable replacement at relatively short notice.
“Neither materialised and, in the end, the matter became a point of principle as much as anything.”
Peace added: “He must now accept the fact he remains under contract for a further 18 months and has to focus on his Albion commitments.”
QPR and West Brom had engaged in talks about Odemwingie’s possible sale on Thursday, but the Premier League clubs failed to reach an agreement.
Odemwingie arrived in west London hoping to finalise a deal but was not allowed to enter the premises, and Hoops manager Harry Redknapp said the incident was a “mistake”.
“It was unfortunate really. Wires got crossed somewhere,” Redknapp told BBC Sport.
“We were trying to sign him and the lad thought a fee had been agreed between the two clubs. It hadn’t – there was still some haggling going on
“He’s a good lad – it was just a mistake. That one is dead.”