Pearson, a former Hull City chairman who once worked at Elland Road as commercial director, admitted earlier this month he has a long-term ambition to return to football.
But the 48-year-old's desire to achieve success with Hull FC - the club he bought in July 2011 - will keep him in Super League for now.
"Hull FC is mine," he told the club website. "I own the club, it's my baby and I want to grow and develop it.
"Football is my business and I'll always get rumours and connections in football as that's my industry.
"Leeds is a club that I live close to and I've worked there before so I understand how big a club it is, but at this minute in time it's not for me. My focus is completely on Hull FC and my other business interests.
"There'll be no movement to Elland Road in the near future. This is my complete focus and so I'd like to squash those rumours once and for all.
"I'm incredibly passionate about Hull FC. Watching the team and the commitment and effort they put in, and the supporters are so passionate about the club, you can't help but reach those levels of passion yourself.
"Certainly I won't be leaving until there's some silverware and we're established as a top Super League club. I want to win something and try to get into that top four."