"I am fully committed to Wasps and I am more determined than ever to get us back into play-off contention next season," said Edwards.
"With the signings we have made we feel we have strengthened in the right positions and next season will be a fresh start."
Edwards only recently signed a new two-year contract with Wasps but a poor season domestically and in Europe, together with the club's ongoing search for a new director of rugby, led to suggestions he could be heading back up north.
The former Great Britain Rugby League international toured South Africa with the Lions in 2009, taking on the role of defence coach under the stewardship of Sir Ian McGeechan.
Edwards has spent the past three seasons combining his club role with the position of defence coach with Wales alongside fellow Lions coach Warren Gatland, with Gatland committed to staying with Wales until after the 2015 World Cup.
As for Wasps' search for Edwards' new boss, the former Heineken Cup winners say the decision-making process is still ongoing.
"No decision has been made yet on the vacant director of rugby position, contrary to ongoing speculation. The club will make an official announcement in due course," read a Wasps statement.