The Spaniard put pen to paper on a new five-and-a-half-year contract on transfer deadline day, despite being linked with a move away.
Tottenham and Manchester United were reportedly lining up moves for the 22-year-old forward, who has five goals for the Magpies this term.
The Premier League pair were both thought to be keen on strengthening their attack during the winter window with a new striker.
But the former Tenerife frontman insists he had no desire to leave St James' Park due to the amount of trust the club has shown in him.
"I am still young," he said. "I have to work a lot and I have a lot of years to improve as a player. I am happy here and I don't have to think of anything else.
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Ayoze Perez signed a new deal until 2021
"Newcastle gave me everything. They made me professional and I have to be pleased with the club. They signed me until 2021 - five years!
"They trust in me in this deal. So I say, 'Thanks' and now work harder and prove, and show on the pitch that I deserve it."
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