The 29-year old joined from Fulham in summer 2012 but was unable to prevent the Royals from suffering relegation in his 29 league appearances last term.
Pogrebnyak has previously spoken of his desire to remain in the top-flight, but he says he is happy to stay and fight for the Reading cause despite receiving a number of offers this summer.
"I've decided to stay at the club, although I had offers, including Russian clubs. Not just from those teams which are always in the spotlight but also from Tom Tomsk. But I answered 'no'," he told ITAR-TASS agency.
"It's not about money but about my desire to play in England. I'd like to be back in the Premier League and I like the British culture very much."
Pogrebnyak's brothers Kirill and Nikolay are both playing at Tom Tomsk and the Russia international refused to rule out the possibility of playing together one day.
"Who knows, maybe some time we'll play in one team," he said.
The striker missed out on Reading's 1-0 victory over Yeovil, fuelling speculation that he was set for an exit, but he says he is fully committed to the campaign ahead.
"I had a pain in the groin. I told our manager that changing my club is in my mind. I said I wanted to play in the Premier League," said Pogrebnyak.
"But I promised that if I stay then I'd do everything to help Reading to reach the promotion. We've lost a couple of points at the start but we can still reach anything."