The French international was linked with a move away from the Saints and reportedly handed in a transfer request to force through a move to Tottenham Hotspur.
However, he has begun the season in good form, scoring three goals in four Premier League matches, and has since apologised for trying to push through a transfer.
"I never wanted to disrespect anyone at the club," The Mirror quotes him as saying. "Sometimes in life, you need to make choices, and everyone was worried when we lost so many players.
"But the club showed, by buying some good players and bringing in a top manager, that they still have ambitions, and that is really what I was asking for. I'm very happy here, the club has been very good to me for seven years now and I want to pay them back."
Schneiderlin was among the scorers as Southampton claimed a 4-0 win over Newcastle United on Saturday.