The 36-year-old has spent his entire career with the Giallorossi, making nearly 700 appearances for the capital club since his debut in 1992.
Some speculation had linked the Italy veteran with a move to North America as his career enters its twilight years, but Totti insists he has no plans to follow compatriot Marco Di Vaio across the Atlantic, after the former Juventus striker joined Montreal Impact in 2012.
“Could I follow Di Vaio to the MLS? He made a lifestyle choice,” he told reporters at a press conference.
“I have a contract with Roma that I intend to respect and am focused solely on Roma. I can only speak highly of Di Vaio. He told me he’s very happy about moving to Canada."
Roma suffered a dismal end to the 2012-13 campaign, with a sixth-placed finish in Serie A compounded by their 1-0 defeat to bitter rivals Lazio in the Coppa Italia, but Totti is determined to help restore his side to the continental elite.
“The club is trying to put together a squad that can compete at a high level," he added.
“You win titles with strong players. We hope to compete at the highest level in Europe soon.”