The Montenegro international joined the Blues from Fiorentina last summer in a deal reported to be worth £22m and made just 13 appearances in the Premier League.
The 24-year-old has been heavily linked with a switch to Inter Milan in recent weeks, but he is keen to stay at the Etihad and show why the club signed him in the first place.
"I will not leave City," talkSPORT quotes him as saying. "I had a lot of bad luck last season and the club has not seen my real game yet.
"Now it is my turn to demonstrate why I signed for this club."
Jovetic has scored 12 goals in his 30 appearances for the Montenegro national side.