The Belgium international is said to have been in talks with the club over the last few months following rumours that Barcelona were interested in him.
Despite deciding against putting pen to paper on fresh terms, Vertonghen has stressed that he has no desire to leave the North London outfit.
"I am not signing, no," the London Evening Standard quotes Vertonghen as saying. "We agreed not to. I would prefer not to say why. I still have four years left. I am happy at the club and I think they are happy with me. That's where it ends.
"I am very happy, we have a good manager, we have a good team and a lot of good players. The squad is very big and you have to work hard to play every game, and I hope I am playing again soon."
Spurs are currently ninth in the Premier League table.