The 2,900-square metre (31,000-square foot) property was confiscated by Spanish authorities in March after Becker failed to pay a Majorca builder €391,000 ($544,000) for carpentry, plumbing and surfacing of a basketball court.
The six-time German Grand Slam champion, currently in Paris in his role as the trainer of world number two Novak Djokovic, was also told his nine-bedroom property would be auctioned off for €7 million.
But on Thursday Becker saved the property with just minutes to spare when a lawyer acting for him handed over €430,000 ($590,000) to a Majorca judge, Spain's La Vanguardia newspaper reported.
This is the second time Becker has nearly seen his Majorca holiday home sold off. In 2012, he ended up in court on the island over €359,011 in unpaid gardening bills.
Becker's private life post-tennis has been beset by scandal.
The most infamous interlude involved him having sex with the model Angela Ermakova on a staircase in a London restaurant while his pregnant wife was at home.
Ermakova fell pregnant after the romp, going on to give birth to Becker's daughter Anna.