The Germany international, who scored the winning goal in the 2014 World Cup final, has failed to carve out a starting spot since joining Bayern from rivals Borussia Dortmund in 2013 and had been linked with a possible move to Liverpool.
The 23-year-old, who had said at the start of last season he wanted to play more regularly, on Monday poured cold water on a move, saying he wanted to see out his contract until it expired in 2017 and looked forward to the next season under new coach Carlo Ancelotti, who is replacing Pep Guardiola.
"I had talks with him (Mario) and Ancelotti. Mario knows the thoughts of Bayern," Bayern CEO Karl-Heinz Rummenigge told Kicker magazine. "Everything was clearly and seriously explained to Mario.
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"He knows what the club thinks and what the new coach thinks. Mario has to evaluate for himself whether he wants to play constantly."
Goetze, hailed as the most talented German player of his generation, only returned to fitness in February following a five month injury break and made just 11 starts for Bayern in the Bundesliga, scoring three goals.
On Monday he split with his long-time agent before committing to Bayern, who won the domestic double this season.
"I look forward to the new season in Munich and will do everything possible to be in top shape for my first training session under Carlo Ancelotti," said Goetze.
German media had reported Ancelotti had informed the player he would not have any guarantees of more playing time.
Goetze has been included in Germany's preliminary 27-man squad for Euro 2016 which starts on June 10.
(Reporting by Karolos Grohmann)
