Shakhtar Donetsk coach Paulo Fonseca, who had been linked with the West Ham manager's job, has signed a new two-year contract at the Ukrainian club.
The Portuguese had been a reported target for the Hammers as they look for a successor to David Moyes.
But Shakhtar announced on Thursday night that the 45-year-old had committed his future to the club.
Shakhtar president Rinat Akhmetov said on the club website: "Paulo Fonseca is at Shakhtar and I'm delighted with that. We've signed a new contract for two years.
"Do you remember how, two years ago, we appointed Paulo at Shakhtar and everyone shouted, 'What will happen, what's going to happen to Shakhtar now? Now everything will go wrong with Shakhtar. Everything's wrong, there will be problems. We don't know what to expect.'
"And what do we see? Two league titles, two cups, one Super Cup and a brilliant Champions League campaign.
"This shows that Shakhtar made the right decision two years ago by appointing Paulo and his assistants.
"Now we've signed a new contract and I'm confident that new successes await us in the future. Paulo is a professional. He's an ambitious man, an industrious man and he's got great ideas. He knows what to do.''