The Netherlands international had been linked with a return to the Premier League recently.
With 12 months remaining of his current deal, the former Ajax and Real Madrid player indicated a willingness to repay the Hamburg fans after a hugely disappointing season.
Van der Vaart told German paper Bild: "I am able to understand a top-earner and skipper of any club being criticised after such a disastrous campaign.
"I certainly had a weak second phase of the season. I am looking forward to having a much better campaign alongside my Hamburg team-mates.
"I am going to play for Hamburger SV in the new season. To make sure the supporters are getting the good Rafael and not the weak one from those last few months!"
The Dutchman has failed to replicate his form from White Hart Lane, or during his first spell with Die Rothosen, since returning to the Imtech Arena, and only managed 8 goals in 31 games as the Bundesliga side narrowly avoided relegation at the last possible moment.
At 31-years-old, Van der Vaart would still have plenty to offer the likes of QPR or even his old team Spurs, and was destined to head to his third World Cup in Brazil before injury cruelly ruled him out.