Fiorentina have been strongly linked with a permanent move for the 28-year-old in recent days but the player's representative has now dismissed such suggestions
The Italy international has spent the last two years of his Reds career on loan in Italy, first at Juventus and then at AC Milan.
Aquilani admitted earlier this week that he would have liked to return to Roma and has been linked with Fiorentina in recent days, but the player's representative, Franco Zavaglia, claims that the 28-year-old will be staying at Anfield.
"Aquilani is a Liverpool player," Zavaglia told Radio Sportiva. "He's fine there and will remain in England. We are not going back to the torment of last year. There is no basis for this operation [to Fiorentina].
"There was no offer from [Fiorentina sporting director] Daniele Prade, also because the figures involved do not allow Fiorentina to sign him.
"He has two years left on his contract so this time there is only the possibility of an outright sale, and nothing else.
"At the moment, there is now news, although from here on, everything could change. But at the moment his return to Italy seems difficult."
The 28-year-old Aquilani, who has been capped 21 times by the Azzurri, joined Liverpool from Roma for a reported €20 million (then £18m) fee.