FIGC, the governing body of Italian football, had chosen Ranieri as their top candidate to replace Luciano Spalletti after his departure following the World Cup qualifying match against Moldova.
In a statement, Ranieri expressed his gratitude to President Gabriele Gravina for the opportunity, calling it a great honor.
However, he decided to remain committed to his role at Roma, citing the full support of the Friedkin family, who own the club.
Ranieri took over Roma in the second half of last season and had recently accepted an advisory position within the club.
