Aquilani has long been linked with a move to the Black Cats.
Aquilani’s agent, Franco Zavaglia, told Tuttomercatoweb.com: “Right now I firmly believe that Aquilani will play at Liverpool next season.”
The 26-year-old has also been linked with a move to Serie A champions AC Milan.
“There have been no negotiations with Milan regarding Aquilani’s reported move there,” he added.
“The chances of seeing Alberto in the Italian league next season are very low at this point in time.”
Aquilani joined Liverpool for £20million from Roma in 2009, but has failed to make an impact at Anfield. The midfielder spent last season on loan at Juventus.