Lyon entered the Europa League after Remi Garde's men were humbled 4-0 on aggregate by Real Sociedad in the Champions League play-off, prompting speculation that potential suitors could rekindle their interest in the Frenchman.
The 22-year-old was heavily linked with a move to Premier League outfit Arsenal earlier in the summer but, with days to go in the transfer window, Grenier - whose contract expires in 2016 - has ruled out a last-minute departure from Stade de Gerland.
He told RMC Sport: "There is no question to ask. I will stay at least one more season.
"It will be complicated [when I want to leave], but then I must ask the president [Jean-Michel Aulas]. But I am happy in Lyon."
Grenier initially put the rumours regarding his future to bed by signing a two-year contract extension in July with the French giants.