Arsenal and Liverpool target Luan has signed a new contract with Gremio.
Barcelona were also keen on the 24-year-old Brazilian striker, labelled the ‘new Ronaldinho’.
But despite immense interest from Europe’s top clubs Luan has pledged to stay in his homeland until 2020.
Gremio president Romildo Bolzan announced: “We are very happy because this is what Gremio always wanted.
“Luan had said that he was ready to renew and that he would not leave Gremio unless the situation was resolved.
“Additionally, it shows that we are willing to keep our players, our key assets.
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“And most importantly those who have come through our youth ranks.
“This is typical of what our policy of capitalising on what we have inside the club, and to make Gremio more competitive, can achieve.
“This is a time to celebrate.”
Luan quit football eight years ago as he attempted to make a career as a futsal ace.
But he returned to football and was seen as the next south American to follow Gabriel Jesus and Neymar to Europe.
Both Arsenal and Liverpool watched his progress carefully, with Anfield bosses trying to push through a £26million deal.
Luan is actually valued at around £30million with Gremio rejecting a bid of £17m from Spartak Moscow last summer.
Luan has one international cap and recently helped Gremio reach the final of the Copa Libertadores with a brace.
That took him to 16 goals this season.