The 28-year-old is pleased with the Rossoneri's decision not to sell the Italy international and believes he has a bright future ahead of him
A number of recent reports suggested the Rossoneri were ready to cash in on the 20-year-old this summer after a disappointing second half of the 2012-13 campaign.
Milan released a statement on Tuesday saying that El Shaarawy is not for sale at any price, much to the satisfaction of Pazzini.
"I never had any doubts that El Shaarawy would stay at Milan," the striker was quoted as saying on the club's official website.
"He is still young. It is true that he has suffered in certain situations, but he will learn how to deal with that. He has a lot of quality and will prevail and become important for Milan."
El shaarawy netted 16 goals in 37 Serie A appearances for the Italian giants last term.