Jenson Button to stay at McLaren and partner Fernando Alonso next season
The team are to announce their driver line-up at a news conference at their factory in Surrey on Thursday.
But BBC Sport has learned they have decided to retain Button after weeks of leaning towards Kevin Magnussen.
Button, the 34-year-old 2009 world champion, will continue into a 16th season and has his wish granted to test himself against the man widely regarded as the best in F1.
McLaren signed Alonso some weeks ago, but had been vacillating over the identity of his team-mate.
Chairman Ron Dennis had been keen to retain Magnussen, 22, but the continuing delays over making a decision have tipped the balance back in favour of Button.
The two were evenly matched for pure pace in 2014, with Button out-qualifying the novice 10-9 in 19 races.
The Englishman scored more than twice as many points as Magnussen over the season.
McLaren had intended to retain Magnussen on the basis that the team’s data had suggested he was fractionally quicker and had youth and promise on his side.
But Button’s strong finish to the season, his experience and perhaps unrest at boardroom level over Dennis’s position has influenced the team to go the other way.
Magnussen may be retained as reserve driver for 2015.
McLaren, as well as representatives of both Button and Magnussen, were unavailable for comment on Wednesday.