The 20-year old winger has recently been linked with Manchester City and Chelsea, including a swap deal for Fernando Torres, but the Italian giants have made it clear that they have no intention of offloading the promising talent who netted 16 Serie A goals last season.
"There has been a meeting between (Milan vice president) Adriano Galliani, Stephan El Shaarawy and the young star's entourage," read a note published on acmilan.com.
"Everything went well. Stephan has always been an AC Milan fan and has reiterated his determination to continue playing for the Rossoneri.
"That pledge was reciprocated by Milan, with conviction. Milan and El Shaarawy will move forward together, as they have since 2011.
"No more talk of the transfer market, no more rumours.
"AC Milan, the Rossoneri colours and the 'Faraone' will absolutely continue on together."