"Commander Jadhav shall remain in Pakistan. He shall be treated in accordance with the laws of Pakistan. This is a victory for Pakistan," Qureshi tweeted.
The Pakistan Foreign Office in a statement said the fact that the ICJ did not ask Pakistan to release or acquit Jadhav meant that the UN court had "not accepted India's plea" for his release.
The Foreign Office also said that Pakistan was a responsible member of the international community.
"Having heard the judgment, Pakistan will now proceed as per law," the statement said.
It reiterated its accusations against Jadhav, that he "entered Pakistan without a visa on authentic Indian Passport with a fake name alias Hussain Mubarak Patel".
It reiterated its charges that Jadhav "is responsible for acts of sabotage, espionage and multiple terrorist incidents in which scores of innocent Pakistani citizens were killed resulting into umpteen women being widowed and numerous children becoming orphans".
Pakistan claimed that Jadhav "has confessed" to all these acts during his trial in a Pakistani court in front of a Judicial Magistrate. "This is a clear case of Indian state terrorism", the statement said.
In a huge victory for India, the ICJ on Wednesday ordered Pakistan not to execute Jadhav and asked it to reconsider the sentence awarded to him by a military court.
The world court also directed Pakistan to grant consular access to Jadhav, while holding that it had "breached" the Vienna Convention in this regard by denying him this right.
Jadhav, an Indian naval officer, was sentenced to death by a Pakistani military court in April 2017 for alleged espionage. India had approached the ICJ to stay the execution.
( With inputs from IANS )