The Switzerland international had been linked with a move away from the German champions over the summer, with Liverpool, Monaco and Juventus among the teams reportedly interested in him.
Having claimed back in July that he could be tempted to leave Bayern, the 22-year-old now expects to extend his stay in Bavaria.
"Liverpool made a bid for me before the World Cup but Bayern put their foot down and told me, 'We're not going to sell you'," he is quoted as saying by Sky Sports News.
"My contract runs until 2016 and I could possibly extend it. I will consider my decision during the winter break."
Shaqiri is expected to line up for Switzerland on Monday when they open their 2016 European Championship qualifying campaign at home to England.