The 55-year-old, appointed by the Rs in November 2016, had been tipped to leave Loftus Road this summer following the recent passing of his mother.
Despite suggestions that he wants to spend more time with his family, however, and not always having the full backing of QPR supporters, Holloway would rather extend his stay at the club than move on.
"Not in a million years [will I quit]," he is quoted as saying by Football.London. "Why would I want to do that? I had a lovely job at Sky, the minute this job came up I couldn't wait to do it. I knew there was some rebuilding needed and I just got some wonderful young gentlemen in there.
"Not in a million years would I want to move on. I've got a year left on my contract; if they want to sit down and talk to me about a longer one I'd sit down and do that all day long, but that ain't my position, is it? Someone, whoever's decided to write that, I've answered it now.
"If they want to talk to me that's fine but I'm totally committed to working with the young gentlemen I've got downstairs. I'm very proud of the young men we're trying to groom and bring up in this football club, and I wouldn't be doing what I'm doing if I didn't love it, and I do, I love it."
QPR lost 2-0 to Leeds United on the final day of the season to finish 16th in the Championship table.