The couple, who have run up an estimated £3 million in legal bills since Conejero filed for divorce in 2007, informed the High Court of their "surprise" reconciliation over Christmas.
A source told the Daily Mail: "After spending a fabulous Christmas together all divorce proceedings are withdrawn. The judge was very nice about it."
The publication further reports that Pierre White had been forced to represent himself at the time the case was called off, while Conejero was preparing to follow suit after running out of funds.
The pair, who married in 2000 and have two sons together, initially filed for divorce on the grounds of Pierre White's "unreasonable behaviour" and suspected infidelity.