The classy Denmark playmaker is said to have been the subject of a 'concrete proposal' from the Premier League club.
But the 19-year-old, who has been linked with several clubs around Europe, rejected a potential move to England in order to continue his development at Ajax.
"It is true that we have a concrete proposal from Manchester City, about which Eriksen is proud and honoured," Eriksen's representative, Martin Schoot, told Bold.dk.
"We talk about the world's richest club, so that they are interested is something Christian regards as an honour.
"But Christian said a polite, 'no thanks', because he did not feel it would be the best move for his career at this time.
"It also says a little about Christian as a person. It is clear that money does not mean the most to him."