Valverde was on the verge of getting sacked, following Barca’s Copa del Rey final defeat to Valencia.
The Catalans lifted the LaLiga trophy, but the board are believed to have their doubts over the former Athletic Bilbao coach, especially after the Champions League capitulation against Liverpool.
But it is understood that after days of deliberation, the Barcelona board have decided to keep faith with Valverde for the start of next season.
It is reported several key figures in the Barca dressing room expressed their wish for Valverde to stay on, led by skipper Messi.
The Argentine has remained supportive of his manager, despite his public dismay at the Champions League semi-final exit.
Gerard Pique, Jordi Alba and Ivan Rakitic were all believed to have backed the decision for Valverde to keep his job.