Elche will play in the Segunda Division this season after settling a reported debt of €4million.
It was last month announced that Elche would be demoted from La Liga despite finishing 13th in the top flight last season after failing to settle tax debts.
Eibar were given a reprieve in their place despite finishing 18th.
Elche were then unsuccessful with a High Court appeal earlier this month after the Court of Arbitration for Sport (CAS) also ruled that the decision by the Liga de Futbol Profesional (LFP) to demote them should stand.
Cash-strapped Elche then faced the prospect of dropping down another tier to the Segunda B, but it was confirmed on Friday that Ruben Baraja’s side will take their place in the Segunda Division.
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