The 30-year-old has been linked with a January switch to the English Premier League, but after holding talks with Bayern officials, that option has since been ruled out.
It remains to be seen what the future holds, but for now he is going nowhere.
"We had a conversation with Mats a few days ago and he will play for Bayern Munich in the second half of the season," he said after the club's 1-0 win over RB Leipzig on Wednesday.
Meanwhile, Bayern sporting director Hasan Salihamidzic added that Hummels had asked for talks with the club.
"We talked to Mats, it was a good conversation, Mats feels very well in Munich, and if a player does not always play, it's clear that there are discussions," he said.
"Mats wanted to talk to us. We explained our point of view to him and he explained his point of view. I think that we came to a common denominator."