The outspoken supremo claimed last week that the 21-year-old was the subject of a €50 million (£43.9m) offer from an unnamed club, and with the likes of Manchester City, Chelsea and Barcelona all in the mix for his signature, Zamparini has announced that Pastore is staying put.
"Pastore wants to remain at Palermo," he said, according to La Gazzetta dello Sport. "He is an extremely intelligent player, who wants to improve. He has decided to remain with us for another year.
"I have already turned down a €50m offer for Pastore. Even if Chelsea were to make an offer this year, he would not move.
"Barcelona already made an offer and I said to them that this year he would not leave."
Earlier this week, Pastore's agent claimed that the player had "no intention" of leaving the club this summer.