Matt Moylan will remain at the foot of the mountain despite interest from multiple rival clubs.
Moylan was granted leave by Phil Gould in September to deal with personal issues.
Throughout the week, strong reports suggested that Moylan could link up with the Cronulla Sharks in a trade deal with James Maloney, however, Moylan's manager confirmed that the 26-year-old has knocked back the offer and will remain at Penrith.
"There's been a lot of speculation about where Matt Moylan would end up next year even though he's on contract," said Danny Weidler.
"Clubs like Cronulla, the Tigers and Manly were all said to be interested."
Moylan's manager Allan Gainey has told interested clubs that a move was not going to happen.
"He will be staying at Penrith and Phil Gould has told Gainey that they will not be releasing Moylan under any circumstances," Weidler said.
Moylan endured an injury-riddled season only managing 18 games, finishing the year with eight tries.