Lisbie, who is on loan at Colchester United, can be recalled to Portman Road in January but said he would rather remain with the Us than play under Keane.
"Once a manager tells you, without seeing you play a single game, that you can go on loan then it becomes very difficult to say that you would want to play for him again," Lisbie said.
"I just felt like the club didn't want me. If I had to go back then I would, but I don't want to be going from club to club at this stage of my career. I want to be settled and I'm enjoying my time back at Colchester."