The Belgium international appeared to be on his way to the Premier League, but now seems happy to remain at the Amsterdam Arena for another season
The 24-year-old centre-back has been linked with clubs such as Arsenal and Manchester City and a move to the Premier League appeared to be close last month.
However, neither of the English sides have followed up their initial advances, and Vertonghen seems happy to stay put.
"The way things stand at the moment I will stay with Ajax for another year. I'm fully focused on Ajax. I really wanted to play Champions League football again and it's a huge plus that it's possible here," the Belgian said on the club's website.
"At present there's no reason to leave. I want to win the Eredivisie title again here. I think we have a very strong selection, very balanced. We have at least two good players for every position. Additionally, we've signed some promising youngsters."
Vertonghen has a contract until the summer of 2013 with the Eredivisie champions and an offer in the region of €15 million could be needed to lure him away from Amsterdam, should the Premier League sides reignite their interest.