BBC bosses are expected to propose to the BBC Trust that the Asian Network stays open as a national digital radio station.
The station was originally put forward for closure along with 6 Music, meaning a u-turn on both the stations' futures now.
Asian Network Controller Andy Parfitt apparently broke the news to staff on a conference call earlier today. It's understood the station's budget will be cut significantly if the new proposal is accepted by the BBC Trust later this year.
Asian Network presenters Dee and Rav, who go under the name [link=http://twitter.com/panjabihitsquad]Panjabi Hit Squad[/link] tweeted: "The BBC have agreed on a final proposal to keep the Asian Network a national station but needs to serve it's audience better. This will now be taken to the BBC Trust for approval. It is good news that the station is recognised as being vital to the BBC but it's not out of the woods yet."
A BBC spokesperson told RadioToday.co.uk: "Following Strategy Review in February 2010, the BBC Trust asked the BBC to produce more detailed plans for the best ways to serve Asian audiences. We are exploring whether the Asian Network should remain on the national DAB and the work around this is being done as part of the Delivering Quality First process. No decisions have been made and any proposals will be subject to approval by the BBC Trust."