The contracted 25-year-old reportedly floated the idea of a trade home to Victoria in a recent meeting with Power officials and was rejected.
But list boss Jason Cripps on Monday said vice-captain Butters will "100 per cent" be at Port Adelaide next season, and hopefully well into the future.
"We want Zak to be at the club for the next 10 years, and that will be our sole focus at the right time," Cripps said.
"Zak's really happy, 100 per cent committed to the club and a super important player for our future."
Cripps denied Port's three-time best-and-fairest winner had raised the prospect of a move to a Victorian club.
"Zak has never broached the idea of being traded," Cripps said.
"We've had ongoing discussions with Zak and his management group ... as we do with all our players, in particular our interstate players, over the journey.
"We'll continue to have those discussions with those players, but as I said, Zak is 100 per cent committed and happy at the club."
Butters has one year left on his contract, after which he is due to become one of the most high-profile free agents on the market.
The Western Bulldogs and Geelong are both potential suitors, and Darley product Butters grew up a Dogs supporter in Melbourne's western suburbs.
"You do take that extra interest and admire what he's been able to do," Bulldogs men's football manager Sam Power said.
"If Zak had a wish to return to Victoria I think he'd have every Victorian club looking at that.
"But at this stage he's contracted and we haven't heard anything different to that."
Geelong football manager Andrew Mackie is keeping "really close tabs" on Butters.
"He's a gun. We'd love him (but) so would 17 other clubs, including Port Adelaide," Mackie said.
"So as far as we're concerned he's a contracted player, and we haven't spent too much time on it, other than admiring his football from where we sit."Â
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