Speculation in the English media claim the Black Cats are considering strengthening their squad by signing the Liverpool midfielder.
However, when asked about the link with Sunderland, Aquilani's agent Franco Zavaglia said to Tuttomercatoweb.com: "Right now I firmly believe that Aquilani will play at Liverpool next season."
The 26-year-old Aquilani has also been linked with AC Milan, but Zavaglia said a move to the Serie A champions was unlikely.
"There have been no negotiations with Milan regarding Aquilani's reported move there," he added.
"The chances of seeing Alberto in the Italian league next season are very low at this point in time."
Aquilani, who spent last season on loan at Juventus, wants to remain in Italy but has received no suitable offers despite making 33 league appearances for the Turin outfit.
Liverpool signed Aquilani for a reported fee of £20million from Roma in 2009 and he is under contract with the Reds until June 2014.