Barry Bannan will stay at Blackpool until the end of the season.
Aston Villa midfielder Bannan, 20, has impressed in eight appearances since joining the Seasiders in November and had come onto North End's radar.
However, Villa boss Martin O'Neill has now given him permission to stay at Bloomfield Road for the remainder of the campaign.
Blackpool boss Ian Holloway said: "Our close neighbours (Preston) wanted him but he doesn't want to go there.
"He wants to play for us and I think he's enjoying what we're doing. My job is to make him play for Aston Villa which I think he can do eventually."
Source: Team Talk
Source: Team Talk