With the announcement, Weaver quashed speculation Del Rio's job was in jeopardy after the team finished the season with four straight losses for a 7-9 record that was good for last place in the AFC South.
Del Rio, the Jaguars' coach for seven years, was also considered a candidate for the head coaching job at his alma mater, the University of Southern California, when USC Coach Pete Carroll left this week to lead the NFL's Seattle Seahawks.
But Weaver said he and Del Rio met Monday to discuss the team's off-season plans while focusing on areas of improvement, indicating both sides left the confab optimistic about the future, The (Jacksonville) Florida Times-Union reported.
"I came away from that meeting (thinking that) Jack is committed to doing the things that I've laid out that we have to do, in my opinion, to bring this football team to an elite level," Weaver said. "I've made the best decision for the franchise. And, no, average is not acceptable."
Del Rio has a 58-57 career record with Jacksonville.