Stelios Giannakopoulos has ended speculation over his future by signing a new three-year contract with Bolton.
Manchester City made a £1m bid for the 31-year-old Greek midfielder while Liverpool confirmed they were also interested in signing him.
Bolton boss Sam Allardyce said: "I'm delighted that we can put all the speculation behind us.
"I was concerned earlier this week we might lose him but in the end he wanted to stay loyal to me and the club."
Allardyce said he would now look to add to his squad before Wednesday's transfer deadline.
"Throughout, Stelios has been very professional. He is a terrific little player and a real match winner," he told the club's website.
"I hope we can move on now and try to add to the squad before the transfer window closes."
Giannakopoulos joined Bolton in 2003 on a free transfer from Olympiakos andwas a key figure in Greece's surprise march to glory at Euro 2004.
His previous contract had only a year to run and both City and Liverpool angered Bolton by making public their interest in the midfielder.
Bolton feared Giannakopoulos might be unsettled and Liverpool were reported to be on the verge of prising him away from the Reebok Stadium before he agreed a new deal on Friday.