The 23-year-old was touted as a potential replacement for Yohan Cabaye, but rejected the Magpies in favour of remaining in Ligue 1.
"I made the right choice to stay at Montpellier. I have goals, I hope to achieve them," he told RMC.
"I was glad that there was interest in me but the most important thing is what happens on the pitch here with Montpellier.
"I was 100% focused on the team. I do not see myself leaving."
Cabella, who completed a loan stint with AC Arles-Avignon during the 2010-11 season, has represented France at Under-21 level.