The 27-year-old moved to Rome on a permanent basis from Udinese at the start of the 2013-14 season, and featured in all but one of Lazio's Serie A matches.
Candreva showed an eye for goal, scoring on 12 occasions as Lazio finished ninth, falling just short of a spot in next season's UEFA Europa League.
The midfielder is currently in Brazil as part of the Italy squad for the FIFA World Cup and impressed in his country's 2-1 win over England on Saturday.
Candreva's performances for Lazio have led to speculation over his future, with French champions Paris Saint-Germain reported to be interested, but club president Lotito has moved to quash any rumours.
"Candreva is not for sale," he told Radio Due.
"We have not spoken to anyone from PSG and we have not received any offers."