The 27-year-old has recently been linked with the likes of Wolfsburg, Atletico Madrid, Juventus and Zenit St Petersburg.
“Ever since I joined Fiorentina, I have always had a great relationship with the club and the fans,” Vargas told La Repubblica.
“The Della Valle family [club owners] have always expressed their faith in me.
“These are reasons as to why I have no intention of swapping the Viola jersey for next season.”
Vargas’ current contract at Fiorentina is set to expire in the summer of 2013.