An arbitration committee has rejected Cristian Ledesma's request to have his contract with Lazio cancelled.
The Argentine midfielder requested a transfer from the Rome club last summer and has not made a single Serie A appearance this season.
He had hoped to sever his ties with Lazio amid reports of interest from Inter Milan.
It was thought he might win his case after Macedonia striker Goran Pandev prevailed in a similar case last month and went on to join Inter as a free agent.
However, Lazio lawyer Gianmichele Gentile has now stated that the Italian league has ruled in the club's favour.
"Ledesma's request has been declared inadmissible," Gentile told the Italian press
"They have recognised Lazio acted correctly."
It remains to be seen whether Lazio, currently 15th in Serie A, will now open official negotiations with Inter or attempt to make peace with Ledesma.