The news comes on the heels of the team choosing 30-year-old Sean McVay to be its next head coach Thursday, per ESPN's Adam Schefter.
Jason La Canfora of CBSSports.com confirmed Snead is staying, also noting McVay was given a five-year deal.
It was revealed in December that Snead received a contract extension along with then-head coach Jeff Fisher, but the team fired Fisher after Week 14. Mike Florio of Pro Football Talk reported the general manager's job status was not secure and depended on whom the team hired to be its next coach.
Rams executive vice president of football operations Kevin Demoff was noncommittal about Snead's future after firing Fisher in December.
"We'll have a complete review of the entire organization," Demoff said, per NFL.com.
With the youngest head coach in NFL history joining the organization, however, the Rams felt it would be best to keep the experienced executive.
Snead has been around the league for 22 years and has been with the Rams since 2012. In that time, the team is 31-48-1 with zero playoff appearances. In fact, the franchise has not had a winning season since 2003.
The general manager has notably been aggressive in the draft, trading out of the No. 2 pick in 2012 for multiple selections while also trading up in 2016 to take quarterback Jared Goff at No. 1.
While the team has brought in quality players like Aaron Donald and Todd Gurley in that span, there are major question marks on both sides of the ball as it tries to bring a winner to Los Angeles.