Reports on Wednesday suggested that a fee to take the Ivorian defender to Turkey had been agreed and that personal terms were in the process of being thrashed out.
Toure has, however, revealed that he has turned down the option of moving on.
Despite finding himself behind the likes of Martin Skrtel and Daniel Agger in the Anfield pecking order, the 33-year-old feels it would be wrong to join a ‘lower league’ at this stage.
Toure will therefore spend the 2014/15 at Liverpool and see out the two-year contract he signed upon his arrival from Manchester City as a free agent in the summer of 2013.
He told Sport Ivoire: “I am still at Liverpool. I had talks with the coach who clearly indicated that I was part of his plans.
“It is a privilege to be at Liverpool. I am very happy to wear the shirt of this legendary club.
“I feel good physically. At 33 years of age, I am ready for any challenge. It is because I have been spared from serious injuries during my career.
“I continue to work hard in training to keep up the momentum, and it is why the coach wants to keep me at Liverpool.
“Trabzonspor are interested in me, but I have expressed my pleasure at being a Liverpool player.
“Yes, it is always a possibility to join a lower league for more playing time, but I am a competitor and I decided to stay at Liverpool.
“However, the situation can change at any time, but for the moment I am at Liverpool and I want to carry on with the club.”