Mame Biram Diouf will be staying with Hannover until the end of the current season, according to the player's agent.
The former Manchester United forward has been attracting interest from several clubs, including Cardiff and Stoke, after turning down a contract extension with the Reds.
The 26-year-old's current deal will expire in the summer, when he will become a free agent.
However, he will not be leaving before then.
"Diouf is definitely staying with Hannover until the end of the season," his agent Jim Solbakken told Germany's Kicker magazine.
"There are four clubs for whom Mame would play, but none are willing to pay the money Hannover are demanding."
The Lower Saxony club have reportedly put a price tag of 5million euros on the Senegal forward, for whom they paid less than 2million euros two years ago.