Nottingham City Council's Labour Leader, Jon Collins, said:
"This was a referendum imposed on us by the Coalition Government which the majority of local people clearly did not agree with. I am pleased with this outcome because an elected mayor would have been expensive and unnecessary.
This outcome shows that local people recognise we have a system in Nottingham which is working well for them and the city.
"We in the city however are not complacent about the challenges faced in order to achieve our targets of cutting unemployment, continuing to cut crime and anti-social behaviour and keeping our streets and neighbourhoods clean.
All city councillors will now continue the hard work of making Nottingham a better place to live and work."
David Cameron's dream of elected mayors in Britain's major cities looks to be in tatters after the the idea was rejected in referendums.
People in Nottingham, Coventry and Birmingham will this week get the chance to decide whether they want mayors to lead their cities.
Liam Byrne the Birmingham Hodge Hill MP is to resign from the shadow cabinet to stand for mayor in Birmingham.