Waghorn spent last season on loan at Leicester, helping the club to the Championship play-offs, and it had been reported that Nigel Pearson would try to take him to Hul this summer.
That talk intensified after the Tigers played Sunderland in a friendly on Saturday but Bruce has his own plans for the 20-year-old.
"The kid was outstanding on loan last season and now I think that 70 per cent of the Championship would like to take him," Bruce told the Hull Daily Mail.
"I have said that his future is with us this year and nothing has changed. I wouldn't have thought I would be loaning him out this season."
One player that is set to make a loan move is Algerian forward Kamel Ghilas, who is expected to leave the KC Stadium in the next 48 hours.
Ghilas has three years left on his Tigers contract, but is being tipped to join a French side in order to help trim the club's wage bill.