Hibernian's Tony Mowbray has ruled himself out of contention for the vacant managerial post at Ipswich Town.
Tony Mowbray has been with Hibs since May 2004
The English Championship club had made an approach to Hibs.
"Everyone knows I have a lot of affection for Ipswich Town Football Club, where I spent happy years as a player and as a coach," said Mowbray.
"But nothing has happened to change my position at Hibernian. A lot has been achieved in my two years here and there is a lot more to do."
Mowbray has guided Hibs to third and fourth-place finishes in the Scottish Premier League.
Hibs qualified for the Uefa Cup last year and will take part in next season's Intertoto Cup.
But he has lost several of his top players - Garry O'Connor moved to Lokomotiv Moscow, strike partner Derek Riordan is moving to Celtic, while defender Gary Caldwell has already joined the Glasgow club.
It led the 42-year-old former Celtic defender to be linked with the vacancies at Ipswich at another of his former clubs, Middlesbrough.
Mowbray was believed to be top of Ipswich chairman David Sheepshanks' wanted list and Hibs chairman Rod Petrie made his manager aware of the East Anglian side's approach.
"Both clubs deserve the upmost respect and it was important to me that the process was handled with integrity and that I spoke to David Sheepshanks personally to let him know my feelings," Mowbray told Hibs' website.
"We have a talented group of players who have the real potential to achieve success for this football club.
"I enjoy helping them develop their talent and our plans are well advanced for next season."
Petrie was delighted to announce that Mowbray had rebuffed the approach.
"We have a lot of plans we are working on for the future of the club and we are happily getting on with them," he said.
"We look forward to next season and Tony is laying the foundations for it."
Ipswich had already missed out on another of their main targets to succeed Joe Royle.
Former Ipswich player Terry Butcher decided to leave Motherwell for Sydney at the weekend.
Sheepshanks had hoped to make an appointment within the next three weeks.