Nigel Farage is to remain as leader of Ukip after his offer to resign was rejected, according to a statement from the party.
Mr Farage announced he would quit the post in the aftermath of his election defeat in South Thanet, as he had repeatedly promised to do if he failed to enter the Commons.
However, party chairman Steve Crowther said the party's national executive committee believed the election campaign had been a "great success" and said members of the committee "unanimously" rejected Mr Farage's letter of resignation.
Mr Farage had recommended Suzanne Evans, the party's deputy chairman, should take over until a leadership contest is held in September.
He left open the prospect of returning to the role by competing in the election after taking the summer off politics.
Mr Crowther said: "We have fought a positive campaign with a very good manifesto and despite relentless, negative attacks and an astonishing last-minute swing to the Conservatives over fear of the SNP, that in these circumstances, four million votes was an extraordinary achievement.
"On that basis, Mr Farage withdrew his resignation and will remain leader of Ukip. In addition, the NEC recognised that the referendum campaign has already begun this week and we need our best team to fight that campaign led by Nigel.
"He has therefore been persuaded by the NEC to withdraw his resignation and remains leader of Ukip."
Earlier today, Mr Farage took part in a TV debate on the BBC and was interviewed on Sky News, while taking part in VE Day commemorations over the weekend.
Ahead of and during the general election campaign Mr Farage repeatedly said he had no intention of staying in the leader's job.
In his autobiography, The Purple Revolution, he wrote: "The consequences of me failing to secure a seat for myself in the Commons would be significant for both myself and the party.
"It is frankly just not credible for me to continue to lead the party without a Westminster seat... if I fail to win South Thanet, it is curtains for me. I will have to step down."
He later said he would resign "in 10 minutes" if he lost the election.
Last Friday, his resignation statement followed within about an hour of the result.
Mr Farage said: "There hasn't been a single day since 1994 that hasn't been dominated by Ukip. I have tried to mix that with family, I tried for nine years to mix it with running my own business.
"It really has been seven days a week, totally unrelenting, and occasionally let down by people who perhaps haven't always said and done the right things.
"So I feel a huge weight has been lifted off my shoulders.
"I haven't had a fortnight's holiday since October 1993, I intend to take the summer off, enjoy myself a little bit, not do very much politics at all."
Mr Farage has left the role of Ukip leader before - quitting in 2009 only to return after a disastrous general election campaign in 2010.
David Miliband critical of brother's campaign
David Miliband has criticised his brother Ed's general election campaign but ruled himself out of running for Labour leader.
Mr Miliband, who runs a charity in New York after quitting British politics when his brother beat him to the Labour leadership in 2010, said voters "didn't want what was being offered".
He added: "I'm clearly not a candidate in this leadership election, the commitment I have to the job I've got doesn't change."
