"Today afternoon, RSS sarsanghchalak (chief) Shri Mohan Bhagwat spoke to Shri Advani and asked him to respect BJP Parliamentary Board decision and continue to guide the party in national interest.
"Shri Advani has decided to accept Shri Bhagwat's advice," said a statement read out by party President Rajnath after meeting Advani in the company of other leaders.
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Asked why Advani was not present, Singh said, "I told him that this is my press conference and it will not look nice that you sit and hear me."
In a bid to mollify Advani, Singh said he had assured him that all his "concerns" regarding functioning of the party, which he had cited as a reason for quitting the party posts, would be "properly addressed".
"The President will discuss the modalities of addressing these concerns with Shri Advani," Singh said without elaborating.
Earlier in the day, the party chief made it clear that there will be no going back on the decision to appoint Modi as Campaign Committee chief, a major cause for Advani's resignation.
The denouement to the two-day political drama came after hectic parleys and persuasion by a number of leaders who met Advani and impressed on him the need to end the crisis triggered by his resignation.
Modi, whose elevation was the bone of contention, immediately welcomed Advani's decision.
"I had said yesterday that Advaniji will not disappoint lakhs of workers. Today, I wholeheartedly welcome his decision," he tweeted.
Rajnath Singh recalled that the BJP Parliamentary Board had last night decided not to accept Advani's resignation from the National Executive, Parliamentary Board and the Election Committee and requested him to continue to be a member of these bodies.
Singh, who appointed Modi as campaign committee chairman two days back triggering Advani's resignation, earlier ruled out a rethink on that decision.
"Who is talking about changing the decision?... Where am I changing my decision," he told reporters in Banswada in Rajasthan when asked whether he would remain "firm" on his decision or change it in view of Advani's resignation.
To a question on Advani, he said, "he has been our guide, is our guide and will remain our guide."
Before the resolution of the issue, a host of leaders like M M Joshi, Jaswant Singh, Sushma Swaraj, Venkaiah Naidu, Gopinath Munde, Ravi Shankar Prasad, Kalraj Mishra and Gopinath Munde flocked to Advani's residence to persuade him to reconsider his decision, saying his "guidance" was required by the party.
Amidst these efforts, Advani got backing from Jaswant Singh who said a solution should be found to the questions raised the veteran leader soon in the interest of the party as well as the nation.
Jaswant Singh, considered close of Advani, also expressed hope that a solution will be found when asked whether Advani will reconsider his decision to quit.
"A solution should be found soon to the questions raised by Advani ji. This is in the interest of the party. This is in the interest of the nation," Singh said after meeting Advani in Delhi.
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