It was heavily rumoured that the upcoming series was to be the last after a whirlwind of judge changes and Tulisa's eventual axing from the show.
ITV boss Adam Crozier told The Mirror: "It remains a very important programme for ITV.
"It's going to be around for quite some time"
He also admitted that the show needs to improve and get it right, citing I'm A Celebrity... Get Me Out Here's ratings dip a few years ago.
"Funnily enough, we did the same with I'm A Celebrity, which dipped a little bit two years ago, and it has been back stronger than ever.
"It is perfectly possible to do it. All these shows need a bit of love and attention and for things to change to keep people interested."
The X Factor will return to ITV later this year with Sharon Osbourne, Gary Barlow, Nicole Scherzinger and Louis Walsh at the judges table.
X FACTOR CHAMPION ALEXANDRA BURKE HASN'T SPOKEN TO MENTOR CHERYL COLE IN OVER A YEAR
GARY BARLOW THROWS HIS CHAIR ACROSS THE ROOM AND SMASHES MUG AT X FACTOR AUDITIONS
5 OF THE WORST REALITY TV SHOW AUDITIONS YOU'LL EVER SEE