The Italy international looked to be on his way to the Serie A champions before Juventus pulled the plug on the deal at the last minute.
The 31-year-old forward impressed for Bologna last term, scoring 13 goals in 36 league appearances in an excellent loan stint, going on to represent Italy at the FIFA Confederations Cup.
But the former Milan and Fiorentina forward will be staying at Genoa for now, something that he is not disappointed with.
Gilardino posted on his official Twitter account: "I'm very happy to be staying at Genoa.
"I'll give my all for this shirt!"
Gilardino also posted a thank you message to the club's fans for the support they had given him.
And after scoring in the club's 5-2 defeat to Fiorentina on Sunday, Gilardino will look to continue his run of form – which has seen him net two goals in his last three matches – when Genoa travel to Sampdoria for a local derby in their next fixture on September 15.
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