Geroulanos had submitted his resignation on Friday, after robbers made off with scores of artifacts including items dating back over 3,000 years from a museum in the ancient Greek city of Olympia.
But in a meeting between Geroulanos and Papademos, the culture minister was told his resignation had not been accepted, a statement from the prime minister‘s office said.
Papademos instead asked the culture minister to “exhaust all avenues” in the probe.
Police and the culture ministry have released a list of 77 items stolen from the Ancient Olympic Games museum.
They include a 3,300-year-old gold ring, a bronze statuette of a victorious athlete, a 2,400-year-old oil jar, clay lamps, bronze tripods and miniature chariot wheels, as well as dozens of idols of charioteers, horses and bulls.