The Argentine had been linked with a move to City during the January transfer window and national team coach Diego Maradona has urged him to make the switch from La Liga to the Premier League.
But the 20-year-old sensation has followed the likes of Kaka, Thierry Henry and Iker Casillas by snubbing the world's richest club.
"I am tired of all the buzz about where I might be going - the club does not want to sell me and I want to continue at Atletico so things are clear," he said.
"I do not know what will happen in the summer but I have a contract with Atletico and everything is going for them at the moment.
"I know from my agent that many clubs have asked about me and some even submitted a bid but I have not thought about leaving because I am happy here."