Geraint Thomas is set to sign a new deal with Team Sky "in the coming days".
The 2018 Tour de France winner had suggested earlier this month that he was open to a move elsewhere after attracting interest from a number of rival teams.
But with his Team Sky contract about to expire, Thomas revealed at his homecoming in Cardiff, Wales, on Thursday that he was about to commit his future to the cycling powerhouse.
"I've made my mind up [about staying] in my head, really, and just need to get it done officially," Thomas, 32, said. "It's nice to have some good offers, but hopefully it will be done in the coming days."
New Polish-sponsored CCC WorldTour team were among those interested in making Thomas an offer, with sports director Piotr Wadecki promising to "build his team" around the Tour de France winner.
Thomas was welcomed home by thousands of fans in his native Cardiff following his Tour de France victory -- the first by a Welshman.
He led a peloton of budding cyclists through the city as part of the parade, and he later admitted to being "speechless" at the welcome.
"Just the amount of people you can inspire," Thomas told BBC Wales. "I just remember when I was a kid, and looking up to people.
"To just have that image of little boys and girls seeing me performing and wanting to do that, and get them out on their bikes. ... And it's any sport. It's not just about cycling. It's just nuts to be in this position, really."