The announcement came early Sunday after many hours of tense talks between Yushchenko and his rival, Prime Minister Viktor Yanukovych, aimed at ending a long-running political crisis in the country.
"After long talks, a compromise decision has been reached. Now we can say that the political crisis in Ukraine is over," Yushchenko said.
On April 2, pro-Western leader Yushchenko issued a decree to dissolve the 450-seat Supreme Rada and hold early elections. Parliament and ministers, dominated by pro-Russian Prime Minister Yanukovych's supporters, refused to obey the order and referred it to the Constitutional Court.
The power struggle between the two rival politicians intensified Thursday when Yushchenko dismissed the country's top prosecutor loyal to Yanukovych. However, the chief prosecutor resisted the president's decree.