The Ayr United manager held talks with the Perth side after emerging as a top target to replace Craig Levein, who was sacked last week.
Despite sitting top of the Championship with the Honest Men, Brown wanted to explore a move to Scotland’s top flight.
After discussions with American owner Adam Webb, however, Brown has now reached a decision to stay put at Somerset Park.
Ayr United's Scott Brown is out of the running to be the next St Johnstone manager
St Johnstone have already been on to Aberdeen to seek the green light to speak to first-team coach Peter Leven and also want to discuss the position with Larne boss Tiernan Lynch, who won back to back league titles in Northern Ireland and has led the club to the group stages of this season’s Europa Conference League.
An unnamed overseas candidate is also understood in the frame.
Despite Brown’s decision to stay where he is, Celtic captain Callum McGregor believes it is only a matter of time before his former midfield colleague is managing in the Scottish Premiership.
‘Yeah, I think so,’ the 31-year-old said on Wednesday.
‘I know Scott really, really well from my time here, we played in midfield together for a number of years and, when you do that, you understand what makes people tick, how good they really are and how much they understand the game.
‘It’s no surprise that he’s gone into management and he’s started really, really well. And I see him having a Premiership job before too long.’