Villa, who is currently racing with Super Nova in the GP2 Asia championship, will complete his fourth season in the series this year.
"It wasn't an easy decision because we had several offers from GP2 teams and also to compete in the Le Mans 24 Hours, the Le Mans Series and also in America," the Spaniard said.
"But we think GP2 is where we need to be and I feel very comfortable at Super Nova following the work we have been doing in the GP2 Asia Series this winter."
The 21-year-old, winner of three GP2 races, finished in 17th position with Racing Engineering in last year's championship.
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