The 27-year-old winger has been the subject of intense transfer speculation in recent weeks and months, with Serie 'A' giants Juventus also linked with the player.
Former Citizens boss Roberto Mancini was credited with an interest in bringing Blaszczykowski to the Etihad Stadium before he was sacked earlier this week, with the Premier League club ready to activate the Poland international's €15million buy-out clause this summer.
However, Manchester City and Juventus will face a serious fight to secure the player's services, after he reiterated his commitment to Borussia Dortmund and is set to extend his stay in Germany until 2018.
"I have been here for six years now and I'm part of the city and the club," Blaszczykowski told Przeglad Sportowy. "I have grown up as well. I have no fears or worries.
"The question is where would I feel as good as I do in Dortmund?"
Blaszczykowski is set to feature in next week's Champions League final at Wembley, as Jurgen Klopp's side prepare to take on Bundesliga rivals Bayern Munich in the first ever all-German European Cup final.