The Algerian forward only arrived at the San Siro in a co-ownership agreement with Parma last month, but was linked with an immediate departure in reports emanating from Italy on Tuesday.
However, Inter have quickly dismissed such suggestions in a short statement on the club's official website.
"In response to stories appearing in the media, FC Internazionale denies reports that Ishak Belfodil might be leaving the club," it read.
Belfodil missed two penalties during his debut for Inter, a 3-0 pre-season victory against a Trentino select side.
The 21-year-old then went on to notch his first goal for the Italian club against Vicenza, but did not feature in the 4-0 Coppa Italia win over Citadella.
It was claimed on Tuesday that Belfodil could be sold to Genoa to replace Roma-bound Alberto Gilardino, while Marco Borriello was primed to take the Algerian's place at San Siro.
Meanwhile, other media outlets reported that the striker could be moved on to make way for the return of Samuel Eto'o, with the Cameroon star set to leave Anzhi Makhachkala this summer.