The Atletico icon had cast doubt over his future at the club following their second Champions League final defeat against city rivals Real Madrid in two years last month.
There had been suggestions he was set to replace Laurent Blanc as PSG manager but Simeone confirmed on his official Instagram account that he will remain at the Vicente Calderon.
Since taking over as Atletico boss in December 2011, Simeone boasts a hugely impressive win ratio of 63.2% from his 261 matches in charge (165 wins). The Rojiblancos have also only lost one game at home in the Champions League in the 17 matches Simeone has been in charge of. Staggeringly, they have only conceded four goals in those matches.
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