The presenter was thought to be weighing up her options, with rumours she was considering quitting the network imminently.
But now sources say she's made her mind up and appears to be staying at This Morning and could even get a boost on her £700,000 salary.
Holly's eye-watering pay packet could be bumped up after her choice to remain at ITV – amid claims of bullying and the Phillip Schofield backlash.
An insider told MailOnilne: "Holly is going back. People have been saying she won’t for some time now but she is.
"ITV want her back, and they are delighted she has agreed. It will be made official shortly but it will save This Morning, it will ease a huge crisis that they are in.
"It most probably would have been game over for them if Holly had left."
Since Schofield's exit, Holly has presented shows since alongside Alison Hammond, Dermot O’Leary, Josie Gibson and Craig Doyle.
Her sidekick of 13 years "stepped down" after it was revealed he was cheating on his wife with a young male member of staff.
In a statement at the time, he said: "The first thing I want to say is: I am deeply sorry…
"I did have a consensual on-off relationship with a younger male colleague at This Morning.
"Contrary to speculation, whilst I met the man when he was a teenager and was asked to help him to get into television, it was only after he started to work on the show that it became more than just a friendship.
"That relationship was unwise, but not illegal. It is now over. "
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