The Football Association confirmed that Southgate will remain as England's manager until the European Championships.
For what will be his fourth major tournament as England's coach, he will stay.
Mark Bullingham, CEO of the FA, said in a statement that "we are delighted to confirm that the England manager will lead our Euro 2024 campaign." Our planning for the Euros starts now that we have our full support.
England reached the last eight of the World Cup in Russia and the final of the European Championship before losing to Croatia.
Prior to this year's tournament, there had been a lot of criticism of Southgate.
Questions were asked about his future after he was demoted to League B of the Nations League after losses to Hungary and Italy.
After the team's run to the last eight, he stressed that he needed a period of reflection to make a decision on the best course of action.
He said that he needed time to make correct decisions after they left the tournament.
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You go through a lot of emotions. It takes a lot of energy to play in a tournament.
I want to make the right decision for the team and the FA. I need to be sure I make the right decision.
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Sky Sports News is led by a senior reporter.
It is significant that the decision was made just eight days after England's exit from the tournament. There are a number of factors which have convinced him that it would be wrong to leave now.
The players have been very supportive of him. They were all in favor of him staying on.
He believes England can win something. The squad with the young players coming through has a chance of challenging in Germany in 18 months' time for a European Championship. If he were to walk away now and someone else was to take that glory, I think he would be bitter about it and maybe regret it for the rest of his career
"He spoke with his family about it and his assistant Steve Holland and he decided he needed to, he wanted to, and had the energy and desire to stay on as England's boss."
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Gary Neville is a football pundit.
"I think it's the right thing to do," he said.
I didn't think that it would work when it was going to be discussed in the new year. It was necessary to deal with and the fact that it came out overnight is good.
Everyone is able to focus for the next 18 months. Succession plans can be put in place if there is a change after the tournament.
It didn't feel right for him to leave and it also didn't feel right for the FA to replace him.
We played well against France and I thought we were the better team on the night.
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We always want an autopsy, a scapegoat, a blame, but it doesn't exist for me in this tournament. I think the players, manager and coaches have handled themselves well, even though they won't get over the line.
I have not gotten over the line myself a few times.
Despite calls from some quarters for him to be replaced by a head coach with a proven track record of delivering silverware, his former England team-mate has delivered significant improvement and outperformed more illustrious names of the past who have taken management
"You can't have good football, good performances and good integrity if you don't have respect, integrity, and good performances," said Gary.
I don't buy the idea that England's coach can't win a tournament.
We brought in a coach who was a hard winner and a coach who had success at club level, but they didn't deliver the kind of results that we have seen with England." Let's get that out of the way.
"Over the last 10 years we've wanted a better team, a more technical team, better performances, getting to the latter stages of the competition, keeping possession..."
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He has made us feel better about playing for England again. There's a good place for us. With the women's success, with the youth team success, England have had a really good 10 years, this idea we need to bring in this hard-nosed, killer winner and all of a sudden we'll be okay, I don't believe in it.
I've known the man for a long time and he wants to win. He does the press conferences where he's articulate and he is polite when he speaks to people.
He's been harder with big decisions than a lot of England managers have been in the past, because he has dealt with them differently.
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