The Italian has said he wishes to continue in the post and it was agreed he will continue following discussions with the Russian football federation in recent days.
The 68-year-old, who signed a new contract in January up to the 2018 World Cup hosted by Russia, said "Both RFU and the country's sports ministry trust me."
"I'm set to continue my work in Russia. But I'm ready to resign in case I feel any kind of distrust from them."
With him at the helm, the country failed to win a single game during the World Cup and was eliminated in the group stage.
He has bemoaned the country’s fielding an old team in the tournament. "Russia were one of the most aged teams at the World Cup and definitely requires some fresh blood," Capello told a news conference.
"I have been calling young players up during the World Cup qualifying campaign on a regular basis and I'm set to continue this practice in the future."
Capello’s managerial career has seen him in charge over the English national team, AC Milan, Roma, Juventus, and Real Madrid.