It was reported at the weekend that Paxman was ready to quit Newsnight after 23 years on the show, after it wrongly linked a "senior Conservative politician" with child abuse allegations.
© BBC Pictures / Jeff Overs
But Paxman, who has been away in the US filming a documentary, said that he would return to the programme.
He told The Sunday Telegraph: "I have been away filming, but I will definitely be there on Wednesday (November 21)."
Whilst the Newsnight report earlier in the month did not directly name the senior Conservative figure, former Tory Treasurer Lord McAlpine was later incorrectly linked by thousands of people on Twitter to a paedophile ring in a North Wales children's home.
An internal BBC report concluded that basic journalistic checks were not followed with the Newsnight investigation.
Discussing Entwistle's departure, Paxman said: "He has been brought low by cowards and incompetents. The real problem here is the BBC's decision, in the wake of the Hutton Inquiry, to play safe by appointing biddable people.
"They then compounded the problem by enforcing a series of cuts on programme budgets, while bloating the management. That is how you arrive at the current mess on Newsnight."
Newsnight editor Peter Rippon stood aside last month while an investigation is run into why he dropped a report on child abuse allegations against Jimmy Savile in December 2011.
Helen Boaden, the head of BBC News, and her deputy Stephen Mitchell have also stepped aside while the investigation - led by former head of Sky News Nick Pollard - is conducted.
Pollard has reportedly hired Alan Maclean QC, the barrister who represented Tony Blair and Alastair Campbell during the Hutton Inquiry, to advise on his inquiry, potentially pushing the costs into the hundreds of thousands.
> Sally Bercow denies Lord McAlpine libellous tweet
> Ofcom to investigate BBC's Newsnight, ITV's This Morning
> Lord McAlpine: Guardian will not pay George Monbiot legal fees
