"I remain committed to Red Bull for the foreseeable future," the 55-year-old Briton said in a statement at the Monaco Grand Prix.
Newey is the sport's most highly-rated and rewarded designer, having produced championship-winning cars for three teams - Williams, McLaren and Red Bull - in his illustrious career.
Red Bull, who have been outperformed by Mercedes this season, have won the last four drivers' and constructors' championships with 26-year-old German Sebastian Vettel.
Newey has been linked to Ferrari in the past as well as a switch to Americas Cup yachting, but has forged a close working relationship with Red Bull team principal Christian Horner and has indicated previously that he was in no hurry to leave.
"There are always rumours, aren't there? What can I say? It's the silly season," he had said at this month's Spanish Grand Prix.
"We're all under contract, so at some point I've got to think about the future but my focus at the moment is trying to get back on top of those silver cars (Mercedes)."
Horner also told reporters before the Monaco weekend that Newey had a "paternal feeling" towards Red Bull.
"He has been involved (with the team) since the beginning, is much more involved than he has been at any other team, and he enjoys the environment he works in," added the Briton.
"The speculation is purely that, but you can understand why Ferrari would be looking."
Ferrari last won the drivers' world championship with Kimi Raikkonen in 2007 and have had just one podium finish so far this year with Fernando Alonso.
Team principal Stefano Domenicali resigned last month and was replaced with Marco Mattiacci.
(Reporting by Alan Baldwin, editing by Justin Palmer)
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