A WHC spokesperson said the Committee, which is meeting in Poland, had made the decision late Wednesday and expressed "deep concern" over two years of back-to-back mass coral bleaching which aerial surveys found had affected some two- thirds of the World Heritage-listed site.
The bleaching is the result of warming sea temperatures linked to climate change.
In reaching its decision, the Committee noted Australian attempts to preserve the largest living structure on Earth under its Reef 2050 Plan and did not find it necessary to place the site on its danger list, spokeswoman Anika Paliszewska said, despite fears on whether conservation targets can be met.
In a draft report to the WHC last month, UNESCO said climate change remained the most significant threat to the future of the coral expanse which stretches for some 2,300 kilometres (1,400 miles) and criticised Australia for slow progress towards achieving water quality targets.
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The reef is notably threatened by a proliferation of crown-of-thorns starfish, a coral predator which has a devastating impact on coral reef ecosystems.
That report was the first time the economic and social value of the reef -- which is bigger than Britain, Switzerland and the Netherlands combined -- had been calculated.
As well as the problem posed by starfish, the site is also under pressure from farming run-off and development.
The report's lead author, John O'Mahony, said the study made clear the reef was "priceless and irreplaceable" both in terms of its biodiversity and its job-creating potential.
Options explored included developing coral nurseries, culling of crown-of-thorns starfish, expanding monitoring systems and identifying priority sites for coral restoration.
In April, Australia's independent Climate Council warned further damage to the reef could cut tourism by more than a million a year, costing up to Aus$1.0 billion and also around 10,000 jobs.