Guus Hiddink has signed a one-year contract extension with Anzhi Makhachkala, ending speculation that he could be about to take over as head coach of Paris Saint-Germain.
Anzhi said they had exercised their option to keep the 66-year-old for another year.
Speaking on Twitter, board director Konstantin Remchyukov said: "Both sides exercise the old contract's option to their mutual satisfaction. I am glad."
Hiddink guided Anzhi to third in the league and to the Russian Cup final before losing to eventual Russian Premier League champions CSKA Moscow.
The Dutch coach had earlier said he could not rule out quitting coaching at the end of this season and had been linked with PSG, who may need to replace Carlo Ancelotti should the Italian be lured to Real Madrid.