The Clarets had a loan offer with a £31.5million obligation to buy clause accepted by the Blues to bring the 21-year-old back to Turf Moor.
However Maatsen, who helped Burnley win the Championship during his loan spell last season, rejected the chance to return on deadline day.
Instead, the versatile Dutch youth international - capable of playing as a left-back of winger - wants to fight for his place under Mauricio Pochettino.
And in a clip that has went viral on social media, Maatsen could be seen celebrating his failed transfer in a behind-the-scenes video.
Watching Sky Sports News' coverage of deadline day, Burnley's offer for Maatsen popped up on the screen.
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A friend filming then turned the camera to the youngster, who was sitting on his sofa.
With a big grin on his face, he gave the thumbs up, before proudly telling the Chelsea faithful: "I'm still here guys, up the Blues."
His rejection will come as a huge blow to Burnley boss Vincent Kompany, who made him one of his star players last campaign.
In 39 Championship games last season, Maatsen chipped in with four goals and six assists.
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His dazzling displays saw him named in the EFL Championship Team of the Year, as well as the PFA Championship Team of the Year.
Maatsen featured heavily for Chelsea in pre-season, where he scored the first goal of the Pochettino era - helping himself to a double in the win over Wrexham.
He is yet to start in the Premier League this term, but has come off the bench in the home games against Liverpool and Luton.
And he was included in the midweek line-up for Chelsea'a Carabao Cup second round win over AFC Wimbledon.
It remains to be seen what position Pochettino sees Maatsen playing in, and whether he is even in his long-term plans.