Denayer joined Turkish giants Galatasaray from Premier League powerhouse Manchester City in the summer transfer window.
The 22-year-old central defender moved to Galatasaray on a season-long loan deal on transfer deadline day.
The Belgium international spent the 2015-16 campaign on loan at the Turkish club from City.
Celtic manager Rodgers has revealed that he wanted to secure the services of Denayer in the summer transfer window.
The youngster was on loan at the Glasgow giants from City during the 2014-15 season and played quite well during his time at Celtic Park.
Rodgers has also explained why Celtic failed to sign Denayer, stating that he had already made a promise to Galatasaray to join them.
“We looked at Denayer but he had already made a promise to go back to Turkey three months ago and we respected that he didn’t want to break his word,” Rodgers told The Scottish Sun.
“He has history here and would have done well but likewise we were looking at more senior ones.”
“We tried one or two other things late on once that fell through, but I wasn’t just looking at a number,” added Rodgers.
“I didn’t want to just bring in a centre-half, it needed to be a certain profile, a certain type. I am not one for stockpiling players.
“We were offered young centre-halves but that isn’t really what we needed when I have got young players here."
Celtic are aiming to win the Scottish Premiership, the Scottish League Cup and the Scottish Cup, as well as progress to the last-16 stage of the Champions League this season.