Former Real Madrid and Manchester United centre-back Varane had joined the Italian club for this season but was then excluded from their Serie A squad, having suffered a knee injury in August.
"A new life begins off the pitch," Varane said on social media.
"I will remain with Como.
Just without using my boots and shin pads. Something I am looking forward to sharing more about soon."
Varane came through the academy at French club Lens before joining Madrid as an 18-year-old in 2011.
He claimed the first of his three La Liga titles in his maiden season in the Spanish capital.
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