Captain Nguyen Van Quyet will stay at Hanoi FC, the club announced on Monday.
Hanoi FC confirmed Van Quyet would stay at the club next season in a statement, as reported by Vietnam news outlet VnBongda.
The 26-year-old, who has two years remaining in his contract, had been tipped for a moved to Kedah FA in Malaysia Super League.
Hanoi FC were reported to be close to letting him join Kedah on loan, although the Vietnamese side preferred if he were to join Thailand League 1 outfit Muang Thong United instead.
Quyet was initially linked to Buriram United, but the Thai League 1 champions opted to sign Nigerian-born Vietnamese striker Hoang Vu Samson.