Per The Athletic's Joe Vardon, Davis' agent, Rich Paul, confirmed his client wasn't being traded on Thursday.
The news isn't surprising since the team most frequently linked to Davis, the Los Angeles Lakers, was struggling to gain traction in talks with the Pelicans.
ESPN.com's Adrian Wojnarowski reported Wednesday that Pelicans general manager Dell Demps "had no communication" with Lakers president Magic Johnson about their most recent offer for Davis.
Los Angeles' proposal included Josh Hart, Ivica Zubac, Brandon Ingram, Kyle Kuzma, Lonzo Ball and two first-round picks.
Per ESPN's Dave McMenamin, Davis intends to play "every game" the rest of this season for the Pelicans. He's missed the previous nine games due to a finger injury, despite being cleared to play on Tuesday.
With Davis staying in New Orleans for the rest of this season, the focus will shift to this summer, when more teams will be able to get involved in the bidding for the All-Star center. He's averaging a career-high 29.3 points and 13.3 rebounds per game in 2018-19.