The Epic Records chairman signed a contract on Friday (February 3) tying him into resuming his role as judge on the show for its second season, according to The Hollywood Reporter.
Fellow judges Paula Abdul and Nicole Scherzinger, as well as host Steve Jones, have all confirmed their exit from the show within the last week.
Mariah Carey was recently reported to have been approached by Simon Cowell to fill one of the vacant spots on the judges' panel.
However, Carey's husband Nick Cannon denied the suggestions, saying that the role would be a "step down" for the singer.
It was also alleged that Cowell has offered Beyoncé $100m (£63m) to join The X Factor USA.
Watch X Factor winner Melanie Amaro's Pepsi Super Bowl commercial below: