Julian Draxler will remain at Schalke for at least one more season.
Schalke had appeared close to a move to Arsenal last winter before a deal fell apart.
Draxler is one of the world's most coveted young attacking midfielders.
"I have no absolutely no intention of leaving Schalke this summer," Draxler told Bild.
"I have no doubts that there will be plenty of speculation this summer, but it is very likely that I will play for Schalke again next season."